Burberry’s annual sales weighed down by COVID-19

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LONDON (Reuters) – British luxury brand Burberry on Thursday reported a 10% drop in sales for the year to end-March, weighed down by the COVID-19 pandemic, but said its recovery from the crisis accelerated through the year.

The label, known for its trench coats, check fabric and TB monogram, saw a strong rebound in sales in Asia in its final quarter, offsetting some of the hit from continued COVID-related store closures in Europe.

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