LONDON — Exceptional items related to Burberry’s initial public offering last summer took a bite out of the luxury company’s bottom line in the fiscal year ending March 31, while its short-term outlook is clouded by the downturn in travel and other current events.
Burberry said Thursday that its net profits slid 7.6 percent to $85.6 million from $92.7 million last year. Diluted earnings per share dropped 7.2 percent to 17 cents from 18 cents.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"