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BURBERRY WEATHERS THE STORM

BURBERRY, the luxury fashion group known for its camel, red and black check pattern, yesterday met forecasts by posting a four per cent drop in first quarter revenue to £229m. The group said its performance in the UK was “exceptional,” but added trading remained weak in the US and Spain. The firm has responded to the downturn by slashing costs and around 800 jobs, or about 15 per cent of its workforce.