Burberry: coronavirus weighs on demand

(CercleFinance.com) - Burberry said on Friday that the spread of the coronavirus in China is having a substantial negative effect on the demand for luxury goods.


The British luxury goods group - which has not provided any precise figures - simply explains that 24 of its 64 stores in mainland China are currently closed, a situation that is clearly hitting sales of its own network.

In its press release, Burberry recalls that the forecasts it made for the current fiscal year to end- March, were prior to the outbreak of this virus.

The group says that it intends to publish a new trading update by the end of its fiscal year.

Its share is currently down over 2% at 1,973.5 pence on the London Stock Exchange this Friday morning.


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