London, Nov 14, 2024 (AFP) - Burberry launches turnaround plan as posts loss

NAMPA / AFP

2024-11-14

Troubled British fashion house Burberry on Thursday announced cost-cutting plans after posting a loss, with the global luxury sector pressured by weak Chinese demand. Burberry reported a net loss of £74 million ($94 million) in the six months to the end of September, down from profit after tax of £158 million in the same period last year. Revenue slid 22 percent to £1.09 billion, the group famed for its trench coats and trademark red, camel and b......

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