By  on September 11, 2012

Burberry’s warning that its same-store sales had seen “a deceleration in recent weeks” sent a cold chill through luxury in both Europe and the U.S.

Angela Ahrendts, Burberry’s chief executive officer, noted that external environment had become “more challenging” and that the company is up against strong year-ago growth. “Given this background, we are tightly managing discretionary costs and taking appropriate actions to protect short term profitability,” she said.

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