Shares of Burberry climbed in London after the luxury retailer reported strong sales over the holidays. The company said it experienced a 14% increase in retail sales in the third quarter compared with a year earlier, boosted by the Asia-Pacific region and online shoppers. Comparable sales, which excludes new stores, rose by 12%. Burberry has opened five new stores in the last three months, including two in China. On a cautious note, Burberry CEO Angela Ahrendts warned that fluctuating currency exchange rates could weigh on earnings in the second half of its financial year.
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