Is the lure of an attractive exchange rate wearing off for tourists looking to exercise their spending power in the UK? Luxury fashion house Burberry (BRBY) saw third-quarter sales in its home territory fall by “a high single-digit percentage” as wealthy customers chose to spend their money elsewhere.
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Both Asia Pacific and the Americas reported modest sales growth, while like-for-like store sales rose by 2 per cent and overall group sales by 1 per cent.