Burberry shares rise 13% after sales beat expectations

LONDON (Reuters) – Shares in British luxury retailer Burberry (LON:) soared by more than 13% in opening trade on Friday after its third-quarter sales fell by less than forecast.

Comparable store sales fell 4% versus an expected a decline of 12% for the company’s third quarter, which runs to Dec. 28.

Shares were up over 13% on Friday at 12.11 pounds, having more than doubled since September last year.