Burberry sales rocket as tourists flock to its UK stores to take advantage of the cheap pound
Tourists taking advantage of the cheap pound gave Burberry a sales boost by snapping up its ponchos, bags and dresses.
But despite the lift, disappointing demand from American department stores and concerns about trading in Hong Kong and China sent its shares down 7.2 per cent, or 109p, to 1403p yesterday. This morning shares had recovered, rising 1.4 per cent, or 20p, to 1,423.00p
Chief executive Christopher Bailey described the past six months as ‘challenging’ while finance director Carol Fairweather said a £20million cost-cutting plan was under way.
She also said the firm would receive a... read more
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