1. Burn, Burberry, burn Burberry in its annual report says it burnt $37.8m of unwanted products last year in an attempt to protect its brand. Designer brands often destroy unwanted stock to stop it from being discounted on the grey market, which reduces the brand’s appeal. The move has spurred criticism from shareholders and consumers who worry about waste and environmental impact.
2. Amazon in its prime Amazon says this year’s Prime Day was its "biggest in history", with Amazon Prime members buying more than 100 million products during the event. The retailer had more sign-ups for the 36-hour event on July 16 than on any other day in the company’s history. According to estimates from Wedbush Securities analyst Michael Pachter, shoppers spent $4.2bn during the sale, up 33% from a year ago. Amazon doesn’t disclose revenue from the event...
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