Burberry showed promise of recovering from the struggling luxury market. But now, Britain’s marquee trench coat maker will have to lick its wounds a little longer amid the slow burn of its turnaround plan.
On Wednesday, the London-based company reported a 12% decline in sales in the year to March 29, marginally higher than analyst expectations of 13%. Meanwhile, its operating profit was £26 million for the same period against £418 million the previous fiscal year, reflecting the dire state of its business.
