KEY TAKEAWAYSBurberry Thursday outlined a new strategy that will focus on scarves and the outerwear such as trenchcoats it is known for as the British luxury group reels from a sharp quarterly loss.The strategy shift drove Burberry shares up as much as 17% in London trading though the stock remains 40% lower this year.The luxury firm, like the rest of the industry, has been grappling with slowing demand from Burberry (BURBY) on Thursday outlined a new strategy that will focus on scarves and the outerwear s ...

Burberry's CEO Joshua Schulman says the brand is undergoing an urgent "course correct."The strategy aim comes as the luxury brand reports revenue plummeted 22% in its interim results. The brand admitted it had priced out many consumers. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

LONDON, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Grounded in easy elegance. Creativity feels inherently British; expressive silhouettes are infused with familiarity. There is a sense of adventure in the summertime: rainwear is cropped. Trench elements are deconstructed and realised in fabrics that feel light: silk poplin and linen. Weathered materials reference the outdoors. Capes and parkas are coated for protection; fabrics are washed and sun-bleached for a worn feel, drawing on Burberry's heritage of fabric in ...

LONDON, UNITED KINGDOM - 2020/07/16: Storefront of the Burberry store in the prestigious New Bond Street. (Photo by Dave Rushen/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images LONDON — British luxury fashion house Burberry Group dropped out of the U.K.'s FTSE 100 stock market index on Wednesday, as waning sales and a slew of management changes have added to the mounting pressures facing the 168-year-old retailer. The company slipped into the FTSE 250 during September's qua ...

Dublin, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The "Enterprise Tech Ecosystem Series: Burberry Group Plc 2024" company profile has been added to ResearchAndMarkets.com's offering. Burberry Group plc (Burberry) manufactures, retails, wholesales, and markets luxury goods. The company provides accessories, men's and women's apparels, children wear, beauty and other products. The company markets these products under Burberry brand. It distributes through a diversified network of retail, wholesale, and licensing chan ...

In fact, the performance was so disappointing for investors, that BURBY dropped by 16% in a single day following the update and is now trading near all-time lows (see chart below). It's down by 42% in the past five months alone, since I last wrote about it in March. YTD 10Y 30 20 10 0 Lu 2023 2011 2020 2018 2013 Exceptionally Weak Q1 FY25 Update British luxury fashion company Burberry Group plc (OTCPK:BURBY) starts off its first quarter (Q1 FY25, quarter ending June 29, 2024) trading update, released in mid ...

I don't follow Burberry closely enough to know why Akeroyd was sacked. It didn't help that its revenues fell, and it lost money in the first half of 2024. Yale Insights published a story in January that said Salesforce (NYSE:CRM) CEO Marc Benioff was one of the best CEOs in 2023, while Ryan Cohen, head of GameStop (NYSE:GME), was one of the worst. Ventas (VTR) Ventas (NYSE:VTR) is a real estate investment trust (REIT) that owns healthcare-related real estate. Its CEO is Debra Cafaro. She has held the top jo ...

The company also warned on profit and scrapped its dividend, sending shares to their lowest in more than a decade. The business has been in a protracted turnaround. Known for dressing the English upper class in its classic camel, red and black check print, Burberry said its new offer would be "more familiar" to its core customers. 4 Former CEO Jonathan Akeroyd, who has been in the job for two years. Dave Benett/Getty Images for Burberry Subscribe to our daily Business Report newsletter! By clicking above yo ...

Topline Burberry shares slumped 16% Monday after the British fashion house replaced industry veteran Jonathan Akeroyd as CEO following a 20% drop in sales in the first quarter, amid a broader slowdown in the luxury market. The brand appointed Joshua Schulman as CEO Monday © 2024 Bloomberg Finance LP Key Facts Burberry issued its second profit warning of the year Monday after reporting the ongoing drop in sales in the first quarter, in line with the company's 40% plunge in profits within the last year. The b ...