Kovid-19 lockdown in China takes away the shine from quarterly earnings barberry group PLC and Richmont Financial Company Both the luxury giants reported a sharp drop in sales in a market critical to high-end products.
Chinese authorities imposed earlier this year strict lockdown In Shanghai and other cities, that confined residents to their homes and forced many businesses to close stores as part of Beijing’s zero-tolerance approach to COVID-19. Measures Contributed to China weakest economic growth rate over two years, and proved particularly expensive for luxury companies, for which China is often their largest market.