Burberry shares drop 10% after the luxury giant issues profit warning and replaces CEO

"The weakness we highlighted coming into FY25 has deepened and if the current trend persists through our Q2, we expect to report an operating loss for our first half," Burberry Chair Gerry Murphy said in a trading update, describing the company's first-quarter performance as "disappointing." Shares in Burberry plunged 10% at the market open on Monday after a "disappointing" first-quarter performance led it to replace its CEO and axe its dividend. "In light of current trading, we have decided to suspend divi ...