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Burberry Faces Profit Warning on Luxury Slowdown
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Burberry, a British luxury fashion house, has issued a profit warning due to weak Christmas trading and a significant decrease in adjusted operating profit expectations. The company's retail sales for the 13 weeks ending December saw a 7% decrease to £706 million, compared to £756 million in 2022, as it grapples with a slump in luxury demand.
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How might Burberry's profit warning influence investor sentiment in the luxury fashion industry?
To what extent does Burberry's challenges reflect broader economic trends in luxury consumption?
What strategies could Burberry employ to adapt to the changing luxury market dynamics?
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