Burberry's Stock Plunges on News of Declining Sales

Posted on September 11, 2012

Burberry's stock nosedived 20% today after the premiere British luxury goods firm issued a warning on future sales. Burberry's statement says that sales are weak in China, which has been leading the world in luxury sales. Imports to China are down, and Chinese tourists are traveling less. Analysts are worried that other luxury goods firms will follow suit, as the global appetite for luxury goods wanes. Dow Jones's Peter Evans reports on this disturbing news for retailers:



More from Shoppers Shop


  • Richard Branson Says Necker Island Completely Devastated by Hurricane Irma


  • Taylor Swift Announces Reputation Album and Collectible Magazines


  • Amazon Prime Members to Get Special Savings at Whole Foods




  • Gigi Hadid Stars in Missoni Winter 2017 Campaign


  • Nina Dobrev Stars in Reebok x Les Mills Campaign


  • Kendall Jenner and Gigi Hadid Star in Fendi Fall 2017 Campaign