Burberry sales plunge on coronavirus hit

Given the ongoing escalation of the COVID-19 pandemic, Burberry Group plc has said in a statement that since 24 January 2020, trading has deteriorated significantly with comparable retail store sales tracking between negative 40 percent and negative 50 percent over the last six weeks. The company witnessed sales losses in February predominantly in the Asian markets. The company added that while trading in Mainland China has started to improve with the reopening of most of its stores, sales in EMEIA and the Americas have fallen materially in recent weeks.