Burberry published a trading update for Q1 of 2020 in which it said sales had been severely impacted by the COVID-19 pandemic. On the same day the luxury brand announced plans to make 150 office roles redundant in the UK with another 350 being reviewed worldwide. The London based firm said that the move was an attempt to cut costs and invest more in customer facing roles.
Burberry said that comparative sales were down 41% in this first quarter driven in part by the severe drop in tourism caused by the pandemic. CEO Marco Gobbetti said that June was more promising as countries began to ease lockdown measures but that it would take some time until sales returned to their pre-crisis levels.