Burberry to cut jobs and product range to save £100m a year after profit fall

British clothing brand to reduce number of items it sells by one-fifth amid challenging trading conditions in luxury goods market

Burberry is to cut jobs and reduce its product range by up to one-fifth in an attempt to save at least £100m a year, following a 10% fall in profit.

Christopher Bailey, the chief creative officer of the British clothing brand, who also became its chief executive in 2014, said “change is not a choice” as the market for luxury goods faces challenging trading conditions.

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