The British fashion house said comparable retail sales fell 45% in the quarter, which was slightly better than analysts expected. Covid-19 prompted luxury boutiques to be closed around the world, and in some markets consumers are only now venturing back onto shopping streets.Burberry shares fell as much as 6.7% early yesterday in London
LONDON: Burberry Group Plc said it will streamline front-office and certain retail functions in a cost-saving reorganisation following global lockdowns that caused sales to fall by almost half in the latest three months.
The British fashion house said comparable retail sales fell 45% in the quarter, which was slightly better than analysts expected. Covid-19 prompted luxury boutiques to be closed around the world, and in some markets consumers are only now venturing back onto shopping streets.
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