Burberry profits slump by 40% as demand for luxury goods slows
by Jack Simpson from on (#6MTFK)
British fashion retailer hit by drop in sales in Asia and Americas, and expects challenging first half of 2025
Burberry's profits have slumped by 40% in a year amid a wider slowdown in demand for luxury goods that has pushed down sales in Asia and the Americas.
The high-end UK fashion retailer posted a pre-tax profit of 383m for the year up to 30 March in its preliminary results on Wednesday, a 40% drop on the 634m in the previous 12 months. Global sales fell by 8% in the second half of the year.
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