Friday June 5, 2020

Burberry earnings fall again as Hong Kong weighs on fashion firm

Sales in Hong Kong have fallen more than 20% for three straight quarters

18th May, 2016
Burberry's annual pre-tax profit fell by 10%

Adjusted pretax profit fell 10 per cent to £421 million, London-based Burberry said. Analysts predicted £420 million, based on the average estimate. The cost-saving goal will be achieved by 2019, it said, adding that 2017 earnings are likely to be near the bottom of the range of estimates.

Pressure is increasing on chief executive Christopher Bailey after Burberry predicted last month that earnings this year would be at the low end of estimates, or about £405 million. Sales...

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