It was hard to imagine a worse first quarter for Burberry.
At a time when investors were desperate for some positive news following a torrentially bad fiscal 2024, Burberry’s Q1 trading update emphasised a “luxury market that is proving more challenging than expected” with the weakness highlighted coming into FY25 having “deepened” .
Retail revenue for the quarter of £458 million came in 22% below the prior year.
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