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 ...

Associated Press Other high end luxury brands such as Gucci and Prada have proved to be more resilient during a challenging period for luxury sales, however Burberry has struggled to stay on its feet. 24 in executive positions, according to his LinkedIn profile, and will relocate to London from New York City for the new role. Former Coach and Michael Kors boss Joshua Schulman is to take over at Burberry. (Photo by Evan ... [+] Agostini/Invision/AP) The near three-year tenure of Burberry CEO Johnathan Akeroy ...

"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 ...

WH Smith PLC (LSE:SMWH) has announced Burberry PLC group and corporate finance senior vice president Max Izzard will become its chief financial officer this year. Robert Moorhead, who is currently in the role, has told the retailer of his intention to retire after some 20 years with WH Smith, the firm said in a statement on Friday. "It has been both a pleasure and an honour to have worked at WH Smith [...] I am highly confident that the future for WH Smith is an exciting one and I hand over to Max knowing t ...

Investors interested in stocks from the Retail - Apparel and Shoes sector have probably already heard of Hibbett (HIBB) and Burberry Group PLC (BURBY) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank favors stocks wit ...

Burberry Group PLC (LSE:BRBY) is at a fork in the road, with the left path leading to luxury and the other leading to the lesser premium segment. But while Burberry’s strategy is firmly fixed on brand elevation, taking the left path could come with a considerable sacrifice. On the chopping block? The high-end clothing industry’s contentious practice of outlet sales. The outlet channel in the clothing sector refers to manufacturers and retailers selling their surplus, discontinued, or slightly defective merc ...

Investors interested in stocks from the Retail - Apparel and Shoes sector have probably already heard of Urban Outfitters (URBN) and Burberry Group PLC (BURBY) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates ...

Burberry (LON: BRBY) has another thing to worry about; short-sellers are circling. The stock has been in a freefall since April last year as it underperformed peer companies like LVMH, Hermes, and Kering. In all, it has crashed by 50% in this time and the situation could get worse.Burberry short interest risesCopy link to sectionThere are signs that more short sellers are betting that the Burberry share price has more downside to go. Data compiled by Research Tree shows that the company has now become one o ...

Shares in the couturier Burberry Group PLC (LSE:BRBY) seemed impervious to a couple of downgrades as the share price rose 2.7% in early afternoon trading. RBC Capital cut its price target by a £1 a share to £15, while Jefferies was more bearish as it set its valuation at £13 from £14.60, believing the shares are destined to 'tread water' in the near-term at least. RBC told clients in a note: "Softer near-term traffic/demand coupled with product investment, negative FX [foreign exchange rate movements] and d ...