This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.bbc.co.uk/news/business-50416316

The article has changed 5 times. There is an RSS feed of changes available.

Version 0 Version 1
Hong Kong protests hit sales at Burberry Hong Kong protests hit Burberry and Cathay Pacific
(about 1 hour later)
Luxury fashion house Burberry has said sales in Hong Kong have fallen sharply following the violent protests in the city. Two companies with major operations in Hong Kong have revealed the financial impact of violent protests in the City.
It said it expected sales to "remain under pressure" in Hong Kong, one of the key markets for its business. Luxury fashion house Burberry said Hong Kong sales had fallen sharply and would "remain under pressure".
Airline Cathay Pacific said the civil unrest had "been exceptionally challenging, severely impacting demand and operations of the business".
The anti-government protests have gripped Hong Kong for five months and rattled stock markets.The anti-government protests have gripped Hong Kong for five months and rattled stock markets.
Even so, Burberry's first half sales rose 5%, despite a "double digit" percentage decline in Hong Kong. Burberry said it incurred a "double digit" percentage decline in sales in Hong Kong - where it has 10 shops and usually generates about 8% of its sales.
Marco Gobbetti, Burburry's chief executive, said the results were in line with the guidance earlier in the year despite the disruption in Hong Kong, where the retailer has 10 shops and usually generates about 8% of its sales. Even so, the company's total sales rose 5% in the six months to 28 September. Marco Gobbetti, Burberry's chief executive, said the results were in line with the guidance earlier in the year despite the disruption in Hong Kong.
Mr Gobbetti has been taking Burberry further upmarket since he took the helm two years ago and said the new collection from its chief creative officer Riccardo Tisci was generating "strong double digit growth".Mr Gobbetti has been taking Burberry further upmarket since he took the helm two years ago and said the new collection from its chief creative officer Riccardo Tisci was generating "strong double digit growth".
"We also continued to strengthen momentum around our brand and transform our distribution," he added. Cathay Pacific - majority-owned by the Swire investment company, while Air China has a 30% stake - said the short-term outlook remained "challenging and uncertain".
The Hong Kong flag carrier lowered its profit guidance for the second time in less than a month.
The "forward bookings outlook remains weak and uncertain", the airline said, with passenger traffic dipping "significantly", particularly for inbound flights from mainland China.
The airline changed its top management in August when its then chief executive, Rupert Hogg, quit after the airline became embroiled in a controversy over the Hong Kong protests.