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British luxury brand Burberry has warned its full year results will be below its previous guidance after sales fell by 7% to £706m in the 13 weeks to 30 December compared with the same period in 2022.
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Profit warning shows how difficult recent trading has been
The British fashion house said a global slowdown in the luxury goods market had led to slower than expected sales in the key holiday period.
Britain’s Burberry blamed a worsening slowdown in demand for luxury goods for its second downgrade in three months, and warned of a tough challenge ahead as…
“Unlike your average fashion retailer, it is simply not the Burberry way to slash prices and hope bargains lure in shoppers,” AJ Bell's Russ Mould said.