“LONDON (Reuters) – British fashion brand Burberry issued a profit warning on Tuesday, the clearest sign yet that slowing economic growth in China and Europe’s debt crisis are bringing a boom in demand for luxury clothes and accessories to a halt.
The company, famous for its raincoats lined with a distinctive camel, red and black check pattern, said it expected underlying full-year profit to be around the lower end of market forecasts.
That sent its shares down 19 percent and dragged down rivals including LVMH, the world’s largest luxury goods group.”
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