Burberry reports positive financials but cuts profit guidance -
Burberry warned on Wednesday that wholesale and retail profit for fiscal 2016 would likely come in around £40 million ($62 million) lower than expected, citing unfavorable foreign-exchange movements. The downbeat guidance came as Burberry reported net profit of £336.3 million ($522,85 million) for the year ended March 31, up 4.3% from £322.5 million in the same period last year. Adjusted pretax profit, which strips out one-time items, fell to £455.8 million from £461 million a year earlier. Reve