Burberry has seen sales in its key Asian market fall sharply. According to a report from CNN Money, Chinese consumers "have been turning away from Burberry's trademark checked trench coats and other luxury goods" amid a slumping economy.
At least the company's CEO, Christopher Bailey, is setting an example in how executives should act at a time when shareholders are seeing losses. Bailey received a pay of just £1.9 million for the year ending March 31, 2016, compared to his £7.5 million a year ago.
Bailey also serves as Burberry's chief creative officer.
Meanwhile, Burberry said none of its top executives will receive any sort of annual bonus this year. The move follows a "backlash" over executive compensation and was made to "appease investors" ahead of next month's annual general meeting of Burberry's shareholders.
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