Burberry fears tourist exodus after duty-free shopping loss
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13 November 2020
Bosses at Burberry have warned that the government’s plan to scrap duty-free shopping will mean the UK will “lose business” and that it will add a third challenge for the country’s retailers on top of Covid-19 and Brexit.
The British luxury brand, which has suffered from the closure of its boutiques and a slump in tourist shoppers, made the comments yesterday after it reported a 30 per cent fall in sales to £878 million for the six months to September 26 while pre-tax profit plunged by almost two thirds from £193 million to £73 million.
Read the full article on The Times.
