Burberry announced a 4% drop in comparable sales for the third quarter of the fiscal year, surpassing analysts' predictions of a 12% decrease. In response to the sales report, Burberry's shares surged by 13%, indicating a restored trust from investors in the brand's trajectory. CEO Joshua Schulman, who took the helm after leaving Michael Kors in July, has been driving a strategic transformation. The company experienced a 20% decline in sales for the second successive quarter, covering the first half up to September 28, 2024.