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Burberry issues profit warning as Christmas shoppers shun pricey trenchcoats

British brand affected by continued slowdown in luxury demand during cost of living crisis

Burberry has warned that annual profits will be sharply lower than previously expected after consumers left its expensive trenchcoats, bags and scarves off their Christmas shopping lists. Shoppers found the luxury brand’s premium priced products – such as its classic heritage trenchcoat at £1,890 and signature scarf at £420 – too expensive for household budgets drastically cut back amid the cost of living crisis. Rivals including the French luxury brands LVMH and Kering have also reported lower demand for high-end goods in key markets such as the US, Europe and China as the post-pandemic spree wears off.

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