Burberry’s Coo Resigns

Burberry (London) has announced the resignation of its Chief Operating Officer John Smith after serving seven years at the company, according to Retail Gazette.

The retailer cites a slowdown in its Chinese business ventures, as well as investments in staff training and IT, as the reason for its low profits this fiscal year.

The company thanked Smith for his success in “driving digital growth and optimizing the potential of our beauty and travel businesses.” He will part ways with Burberry and the board by summer 2017.