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Burberry hit by strong dollar

Luxury fashion group Burberry missed expectations for retail sales growth in its second-half update. Chinese markets are recovering, but the strong dollar has hit US sales.

The luxury goods sector has endured a turbulent few years. There was a crackdown on expensive gift giving in China, controversial democracy protests in Hong Kong and terrorist atrocities in European cities such as Paris which kept rich travellers away. There were big hopes that the outlook was finally improving and the share price of various players has reflected this.

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