Due to a decline in the demand for luxury goods worldwide, British fashion house Burberry has issued a profit warning for this fiscal year.

The British fashion house Burberry issued its second profit warning in three months, citing weaker global luxury market demand and slowing sales over the Christmas holiday period. The company expects to generate adjusted profits between £410 and £460 million ($523 and $560 million) this fiscal year, down from a November forecast of £552 and £668 million. The company's share prices fell by 7%.

January 12, 2024
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