Burberry could take a $123 million hit on sales because of the Hong Kong protests, analysts warn
|10/09/2019||Posted by BusinessMediaguide.Com under General World News||
- Analysts say that Burberry could take a £100 million ($123 million) hit to its sales in Hong Kong this year because of ongoing violent protests in the city.
- In a note to clients on Tuesday, a group of Jeffries analysts said that they expect the British luxury brand to be badly impacted by protests because it has fairly large exposure to the Hong Kong market.
- And these analysts aren’t expecting the luxury boom times to resume in Hong Kong anytime soon, warning that we could see a “permanent contraction” in the city’s role as a luxury hub.
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