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Burberry said adjusted operating profit will be lower than projected due to declining sales and currency headwinds as demand for luxury slows globally.
LONDON (AP) — Burberry, the London-based luxury goods fashion house, lost around 10% of its market value on Friday after it warned that profits this year would be lower than anticipated as wealthy shoppers, particularly in the Americas, tightened their belts during the crucial Christmas trading period.
Burberry has issued its second profit warning in three months amid a global slowdown in demand for luxury goods.
Burberry issues second profit warning in three months blaming a further slowdown in global demand in the run up to Christmas.
LONDON (AP) — Burberry, the London-based luxury goods fashion house, warned Friday that profits this year would be lower than anticipated as wealthy shoppers, particularly in the Americas, tightened their