Burberry Cuts Outlook Again as Pressure Mounts on CEO Bailey

  • 2017 profit likely to be near bottom of range of estimates
  • Company announces plan to save 100 million pounds a year

Burberry Plans Turnaround as Profit, Style Stumble

Burberry Group Plc unveiled a multi-year turnaround plan based on a narrower product range, its biggest cost purge in years and a sharper focus on bags and online sales, after lowering profit expectations for the second time in a month.

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