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Chinese slowdown to hit Burberry sales

Burberry is expected to report a slowing of sales on Wednesday (July 15) this week, as waning demand from Chinese buyers continues to hit the luxury retailer.

The British firm will announce a 6% increase in like-for-like sales for the first quarter, down from 9% the previous quarter, according to The Sunday Times.

Burberry’s performance will reportedly be hampered by Beijing’s crackdown on the “gifting” of luxury items by officials. It is also believed that the US market has turned more volatile for the business.

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