BGN Entrepreneur

The unexpected update stoked concerns that a slowdown in China and the turmoil in the eurozone finally took their toll on the luxury brands. The British luxury company–Burberry just surprised the luxury goods sector with a profit warning that wiped over a fifth off its share price. This proved to be remarkably resilient in the face of the global economic downturn.
According to Bubbery, it was said that its profits in 2012 would be below the expectations of some analysts as a result of the slower sales growth, sending Bubbery’s shares down by 21%. This decline become the steepest one-day decline ever since Bubbery’s market debut a decade ago.

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