Burberry sales are expected to fall by about one-fifth next week, as the struggling fashion retailer continues facing a slowdown in the luxury market amid reports of a possible takeover.
The company, which recently dropped out of the FTSE 100 because of its declining share price, will announce its first half results on November 14.
Analysts expect sales to come in at about £1.1 billion for the first half, significantly lower than the same period last year.
Meanwhile, the company is expected to post a loss of about £45 million compared to last year’s interim profit of £225 million.
Burberry joins several other retailers in suffering from a stagnant market in the luxury sector, with the key Chinese market particularly hit.