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Burberry set for jobs cut
BRITISH luxury clothing and accessories retailer Burberry is to cut around 290 jobs in Britain to protect profits amid tough trading conditions.
The retailer, which has a concession in Edinburgh's upmarket Harvey Nichols store and an outlet in Livingston's Almondvale Shopping Centre, said heavy discounting allowed it to beat third-quarter revenue forecasts.
Revenues rose nine per cent at the 153-year-old company to 329m in the three months to December 31, although Burberry said like-for-like retail sales fell three per cent in its third quarter.
Burberry said it planned to cut 250 jobs in its underperforming Spanish market and close a sewing plant in Rotherham, northern England, resulting in up to 290 job losses.
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Friday 25 May 2012
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