European stocks rise after UK economy grows; Burberry issues profit warning
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Burberry stock closes 5% lower after cutting guidance
January 12, 2024 12:08 PM ESTLondon-listed Burberry's (OTC: BURBY) shares fell more than 5.5% on Friday after the luxury fashion company posted a third-quarter trading update, lowering its full-year adjusted operating profit guidance.
With luxury fashion demand on the decline, Burberry revealed that retail revenue fell 7% to £706 million, while comparable store sales in the 13 weeks to December 30 declined by... More
