Burberry's quarterly sales dip less than expected following strategic overhaul

Group 1 - Burberry reported a smaller-than-expected decline in sales for the fiscal third quarter, with comparable sales down 4%, compared to analysts' expectations of a 12% decrease [1] - CEO Joshua Schulman announced urgent plans to "course correct" the brand after a period of underperformance, which has led to increased investor confidence and a rise in Burberry's stock price to an all-time high [2] - The company experienced a 20% contraction in sales for the first half ending September 28, 2024, marking the second consecutive quarter of declining sales [3] Group 2 - Schulman, who joined Burberry in July from Michael Kors, is the fourth CEO in the last decade, indicating ongoing leadership changes within the company [3]