Burberry admits customer loyalty is ‘lagging’ and marketing needs ‘rebalancing’

Pre-tax profits fell 10% to £415.6m for the year to 31 March, while revenues dropped 1% on an underlying basis to £2.5bn. The iconic luxury brand primarily blamed the decline on Asia, citing falling consumption levels, a slowdown in Chinese tourists visiting European stores and weaker demand in Hong Kong.
And Burberry expects growth in the luxury sector to continue to slow, with its CEO Christopher Bailey stating that the luxury sector will grow sales by around 2% this year, down fro