Burberry's Stock Plunges on News of Declining Sales

Burberry's stock nosedived 20% today after the premiere British luxury goods firm issued a warning on future sales. Burberry's statement says that sales are weak in China, which has been leading the world in luxury sales. Imports to China are down, and Chinese tourists are traveling less. Analysts are worried that other luxury goods firms will follow suit, as the global appetite for luxury goods wanes. Dow Jones's Peter Evans reports on this disturbing news for retailers: