Join our community of smart investors

Burberry customers abandon UK

The luxury fashion house is suffering from a tourist outflux in the UK
January 17, 2018

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.

IC TIP: Buy at 1,652p

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.