Burberry shareholders will be hoping the British designer can ease concerns over a slowdown in demand for luxury goods when it updates the market this week.
The London fashion house has suffered a share price slump since May amid investor fears about the economic outlook. It will provide a half-year update on Thursday.
In July, Burberry reported a surge in sales due to a post-Covid spike in demand in China – an important market for the group.
Revenues jumped 18 per cent between April and June compared with the previous year, it said.
But luxury rivals have reported a slowdown in sales. Louis Vuitton owner LVMH – the world’s largest luxury group – saw revenue growth slow to 9 per cent in the three months to the end of September from 17 per cent in the previous quarter.
Concerns: The London fashion house has suffered a share price slump since May
And Richemont, the owner of jewellery brand Cartier, last week unveiled weaker-than-expected profits and slowing growth for the year.
Deutsche Bank analyst Adam Cochrane said: ‘The luxury consumer appears to finally be facing economic headwinds after a couple of years of strong outperformance.’
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