Clothing & Shoes
Burberry profits plummet 40% amid luxury spending slowdown
Sales tumbled by 4% to £2.97bn in the year ended 30 March, with its full-year results ‘underperforming’ its prior expectations
Burberry has seen its pre-tax profits nosedive 40% to £383m in its full-year results, down from £634m the prior year, as the high-end retailer was hit by a slowdown in luxury spending. It comes as sales tumbled by 4% to £2.97bn in the year ended 30 March, with its full-year results “underperforming” its prior expectations. Comparable store sales over the year fell by 1% as a challenging H2 offset a “robust” H1.
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