Print Edition - 2017-04-20  |  Money Digest

Burberry shares plunge 7.7pc

- - AP, LONDON

Apr 20, 2017-

Burberry shares plunged on Wednesday after the UK luxury goods maker reported disappointing sales figures, with the fall in the pound in particular boosting spending by tourists in Britain. The company said that sales in the second half of its fiscal year fell 1 percent when stripping out the effect of shifts in currency exchange rates. While Burberry reported double-digit growth in sales in Europe, it suffered a decline in the Americas. Burberry shares were down 5.5 percent at 1,608 pence in London, after dropping as much as 7.7 percent in early trading. Total company revenue rose 14 percent from a year earlier to $2.06 billion in the six months through March 31. 

Published: 20-04-2017 10:33

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