Wednesday, May 18, 2016

Burberry FY16 Profit Down, Warns On FY17 Profit; Stock Dips

Shares of Burberry Group Plc. declined around 3 percent in the morning trading in London, after the luxury goods group Wednesday reported lower profit in its fiscal 2016 amid weakness in demand. The company also expects fiscal 2017 adjusted profit before tax to be towards the bottom of the range of analysts' expectations.

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