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To: Johnny Canuck who wrote (46488)	1/18/2011 5:53:08 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68181

Burberry's, a luxury retailer, numbers support the improved earnings of a number of other luxury retailers. The rich are feeling good about spenting again. Keep in mind approximate 50 percent of the wealth is held by about 5 percent of the population if I remember right. Given the rich got richer and the poor got poor in the last decade, I am not sure what this means for a general economic recovery. The mid-class has been slowly disappearing. :38AM Burberry lifts guidance on strong sales (UK:BRBY) by Barbara Kollmeyer MADRID (MarketWatch) -- U.K. luxury goods retailer Burberry Group PLC (UK:BRBY) on Tuesday reported revenue growth of 30% in the third quarter, excluding the business it is discontinuing in Spain. On an underlying basis, including Spain, revenue rose 27%. The company reported strong consumer demand in retail and wholesale, with retail sales up 40% on a reported basis and 36% underlying. Comparable store sales grew 14% in the quarter, and in China was over 30% in acquired stores. Wholesale revenue rose 15% on a reported and underlying basis, and rose 35% on an underyling basis excuding China. Boosted by improved consumer demand, Burberry now sees a "high teens percentage" rise in second half wholesale sales at constant currencies excluding China. The revised guidance represents a revenue rise of over 10 million pounds ($16 million), evenly split between Americas, Asia Pacific and Europe. Angela Ahrendts, chief executive officer, said the group now expects adjusted profit before tax for the current financial year to be at the top end of market expectations.