STORY: There were early signs of a recovery for British luxury brand Burberry on Friday as its retail sales fell by a less-than-expected 1% in the first quarter.
Shares in the firm, which have more than doubled since September, rose around 5% in early trade.
Known for its trench coats and check pattern scarves, Burberry is using its British heritage designs to try to win back customers.
That's under the leadership of CEO Josh Schulman, who took over a year ago.
The company said comparable sales returned to growth in Europe.
While trading in the Americas strengthened.
Sales fell in China and in the rest of Asia, but the rate of decline was around half the level seen in the previous quarter.
Burberry has issued several profit warnings in recent years.
And as part of its turnaround drive under Schulman, it plans to cut a fifth of its global workforce.
Investors have welcomed the radical cost-cutting measure.
The 1% drop in overall comparable retail sales in the first quarter improved on a 6% fall in the previous quarter.
