Relatively positive results are a ‘first (and early) step in the right direction’, analysts say

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Burberry has recorded a 4% drop in sales over the Christmas quarter, but expects to recover from losses made in the first half of its financial year after a strong performance in the US.

The fashion retailer’s shares rose by as much as 15% on Friday as it posted a fall in retail sales for the three months to 28 December, which was much better than the 12% drop analysts had expected.