Burberry's sales fall 27% in last quarter, pulls dividend

Britain's Burberry said the luxury industry could take some time to recover from the COVID-19 pandemic as it reported a 27% drop in comparable sales in the final quarter of its year, which ended with about 60% of its retail stores closed.

The company said given the uncertain outlook it had pulled its final dividend and would review future payouts at the end of its 2021 financial year.