Now that Burberry has a new CEO, how will it affect the fashion brand?

Models present creations at the Burberry runway show during London Fashion Week in February. Photo: Reuters

Burberry, Britain’s largest and most identifiable luxury brand, on Monday (July 15) reported falling sales, suspended its dividend and replaced its chief executive, as it grapples with a pullback in spending by consumers on high-end fashion and related goods and its own stalled transformation.

Burberry said revenue fell more than 20% in its latest quarter, which ended June 29.