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Burberry


Peter Kimani

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Shares of Burberry Group Plc (LON:BRBY) fell almost 1.5% earlier today after the company announced that sales in China and Hong Kong had been affected by the coronavirus. The maker of luxury items ranging from clothing, accessories, sunglasses, and travel bags among others said that it had closed 24 of its stores in mainland China with the rest witnessing reduced foot traffic.

The company issued a press release warning investors that its outlook for the year is likely to change given the ongoing coronavirus epidemic, which triggered a sell-off in the FTSE 100 stock. The stock has since recovered some of its losses, but is likely to experience more downside until the coronavirus pandemic is contained.

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