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Evening Standard
Evening Standard
Business
Jonathan Prynn

Burberry to axe up to 1,700 jobs after falling into loss on luxury slump

Burberry Luxury

Burberry has launched a major cost cutting drive putting up 1,700 jobs at risk after it slumped into the red following a hefty fall in sales.

Britain’s biggest luxury fashion brand made a pre-tax loss of £66 million for the 12 months to 29 March compared with a £383 million profit in the previous year. Revenue for the year was down 17% from £2.97 billion to £2.46 billion.

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