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America One News
16 Nov 2023
#economy
The Telegraph: Burberry hit by slowdown in luxury demand as it issues sales warning - latest updates
Burberry, a British fashion brand known for luxury goods like trench coats, is experiencing a slowdown in demand. The company expects to miss its revenue goals due to the challenging macroeconomic environment. The decline in luxury demand globally is impacting current trading, and if the weaker demand continues, the company may not achieve its previously stated revenue guidance for 2024. Burberry's CEO criticizes the tourist tax in London, claiming it is pushing shoppers to cities like Paris and Milan for tax-free shopping post-Brexit.