Burberry Posts First Quarter Growth

Burberry Group plc (London) reports its first quarter revenue rose 8 percent. While the numbers are positive, they indicate a slowdown from the 14 percent growth Burberry recorded in the fourth quarter of fiscal 2009 and a 30 percent increase during the third quarter.

The specialty retailer says sales in the U.K. and South Korea are driving the company’s performance right now as the U.S. market remains difficult. Same-store sales remained unchanged.