Burberry shareholders hope the British designer can ease concerns about a slowdown in demand for luxury goods when it updates the market this week.
The London fashion house has suffered a drop in its share price since May amid investor fears about the economic outlook. Will provide a semi-annual update on Thursday.
In July, Burberry reported an increase in sales due to a surge in post-Covid demand in China, an important market for the group.
Revenue rose 18 percent between April and June compared to a year earlier, he said.
But luxury rivals have reported a slowdown in sales. Louis Vuitton owner LVMH, the world’s largest luxury group, saw its revenue growth slow to 9 percent in the three months to the end of September, from 17 percent in the previous quarter.
Concerns: London fashion house has seen its share price plummet since May
And Richemont, owner of jewelry brand Cartier, last week revealed 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.”
