Burberry’s overall retail sales drop 9% but growth in Asia remains strong
Luxury goods group says sales in Europe, the Middle East, India and Africa slowed 37%, mainly hurt by the lack of tourists
20 January 2021 - 18:18
Burberry’s decision to eliminate discounts is showing progress as the brand aims to elevate the image of its products in the eyes of luxury consumers.
Burberry shares rose as much as 5.9%, the most in two months in London trading. The brand has been phasing out markdowns, leading to an improvement in full-price sales during its fiscal third quarter. The stock is still down 20% over the past 12 months...
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