Burberry goes for a slimmer look by cutting costs and jobs
The British fashion house has seen sales fall by 45% in the quarter due to Covid-19 lockdowns and is looking for £55m in new savings
15 July 2020 - 12:17
Paris — Burberry Group has said it will streamline front-office and certain retail functions in a cost-saving reorganisation following global lockdowns that caused sales to fall by almost half in the past three months.
The British fashion house said comparable retail sales fell 45% in the quarter, which was slightly better than analysts expected. Covid-19 prompted luxury boutiques to close around the world, and in some markets consumers are only now venturing back onto shopping streets...
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