LONDON -- Burberry shares had fallen nearly 7% by midday on Thursday despite the luxury retailer reporting a 16% rise in same-store sales for its fourth quarter, as analysts pointed to economic uncertainties that could hamper the brand's post-COVID recovery.
Sales in China, the company's biggest market, grew 13% for the quarter ended April 1 from a year earlier, thanks to the lifting of COVID restrictions in January. But over the year, China sales were still down 11% because of the pandemic. The strong China performance helped overall Asia-Pacific sales grow 19% for the fourth quarter from a year earlier.
