Burberry’s share price hit as luxury brand warns about lower trading over crucial Christmas period

LONDON (AP) — Burberry, the London-based luxury goods fashion house, saw its share price fall after it warned that profits this year would be lower than anticipated. Its share price ended the day 5% lower. Burberry said wealthy shoppers, particularly in the Americas, tightened their belts during the crucial Christmas trading period. The company said recent trading had been hit by a “slowdown in luxury demand” after rises in the cost of living and interest rates around the world. Burberry’s profit warning was its second in three months. In November, it warned that sales growth was lagging behind targets due to pressure in the luxury market.