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Burberry slumps after profit warning on wilting luxury sales

Burberry Group Plc slumped after the UK trenchcoat maker slashed its profit forecast, a fresh sign that demand for luxury goods, particularly in the United States, is waning. The British retailer wiped nearly £100 million ($128 million) off its profit outlook in the starkest sign yet that after an unprecedented…
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Burberry Plunges as UK Trenchcoat Maker Slashes Profit Forecast

(Bloomberg) -- Burberry Group Plc slumped after the UK trenchcoat maker slashed its profit forecast, a fresh sign that demand for luxury goods, particularly in the US, is waning.Most Read from BloombergGoogle Lays Off Hundreds in Hardware, Assistant, EngineeringUS and UK Strike Yemen’s Houthis After Red Sea Ship AttacksUK’s Sunak Authorizes Joint Military Strikes With US Against HouthisHertz to Sell 20,000 EVs in Shift Back to Gas-Powered CarsSEC Authorizes Bitcoin-Spot ETFs in Cry...
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