'Particularly difficult position': Luxury spending slowdown hits fashion house

The slowdown in the luxury market following a post-pandemic boom could not come at a worse time for Burberry, with designer Daniel Lee's first styles for the British label trickling into newly refurbished stores.

Executives cautioned on Thursday (Nov 16) that they would struggle to meet Burberry's annual revenue forecast, pointing to a darkening macro economic climate across the globe and capping off a tumultuous reporting season for the sector.