LONDON — The luxury sector might be breathing easier as a bullish Burberry, undaunted by slower demand in Mainland China, said Thursday it will continue to open as many as 10 stores there each year, in line with its original strategy.
The optimism comes on the heels of a warning last month of a slowdown in the company’s retail sales, which shook luxury sector stocks and sent Burberry’s plummeting nearly 21 percent. The brand did in fact report a slowdown in revenue growth in the second quarter, due partly to declining footfall in China, but said the country’s underpinnings were solid.
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