UK: Burberry Knocked By Caution In Luxury Sector
Although the terrorist attacks in the US harmed sales at fashion brand Burberry, parent GUS Plc said today that it is determined to forge ahead with the luxury label's floatation next June. Outlined in its first half trading update, Burberry's underlying sales rose by 31 per cent. However, sales at Burberry's retail outlets, which account for about one third of annual turnover, fell by 15 per cent in the two weeks following the attacks.