Burberry burned by sluggish sales in Europe and Hong Kong

Burberry burned by sluggish sales in Europe and Hong Kong
By Euronews
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British fashion brand Burberry said difficult economic circumstances will damage profit this year.

British fashion brand Burberry said difficult economic circumstances will damage profit this year.

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The luxury brand said tourist spending in Europe has dropped and demand is weaker in Hong Kong, which has depressed sales.

Burberry reported a revenue of $2bn for the six months to April.

The weaker sales and muted outlook pushed Burberry shares more than 6 percent lower in early trading in London.

Burberry’s luxury rivals are also suffering from the economic slowdown. Sales at industry leader LVMH missed forecasts on Monday.

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