Company’s shares hit three-year low,but finance chief says ‘the Chinese customer is still travelling and shoppingBurberry blamed a sharp slowdown in sales on a tough global market for luxury goods, in specific weaker demand from Chinese customers.
Shares in the FTSE 100 company, or known for its British-made trench coats and cashmere scarves,tumbled 8% to a two-year low wiping more than £500m from Burberry’s stock market value. Shares across the luxury sector were hit, including Prada, or Kering and Salvatore Ferragamo.
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Source: theguardian.com