UK-based luxury goods group Burberry has posted higher than expected revenues for the second quarter. The company says strong handbag and leathergoods sales contributed to the rise.

During the three months ended September 30, sales totalled £343 million compared with analyst estimates of between £320 million and £335 million. Retail revenues rose 16% year-on-year with double-digit growth in Europe and Asia offsetting declines in the US and Spain.

The company says it hopes to open around 15 stores during the full year, which will meet its top target for annual store openings.

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