Burberry’s share price soars out trenches but analysts won’t upgrade yet January 24, 2025 Investors breathed a sigh of relief this morning after Burberry’s first set of results after implementing its turnaround plan showed it was heading in the right direction. Burberry’s share price rose more than 13 per cent in early trades. In the past six months the share price has risen more than 71 per cent – [...]
Burberry: Shares spike as luxury giant’s transformation shows green shoots January 24, 2025 British luxury brand Burberry has reported a boost in demand for its core products after implementing a wide-ranging turnaround plan, although overall revenue has continued to fall. The company’s share price rose more than 14 per cent in early trades. Total retail revenue in the 13 weeks ended December 28 fell seven per cent, from [...]
Luxury stocks boom as Richemont kicks off reporting season with a bang January 16, 2025 Luxury stocks across the world have been given a boost by Cartier-owner Richemont’s booming sales figures this morning. Richemont’s report, the first set of luxury results covering the festive season, indicated that the luxury market may finally be recovering from a slowdown that has lasted nearly two years. Revenue from jewellery, Richemont’s biggest division, rose [...]
Mark Kleinman: Handbags (and more) at dawn for activist Ashley November 21, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles Mike Ashley’s newfound penchant for activist investing, Homebase’s turnaround and and Burberry’s flip-flopping Handbags (and more) at dawn for activist Ashley Paul Singer, Bill Ackman…and Mike Ashley? On the list [...]
Can Burberry’s turnaround plan put it back in fashion? November 14, 2024 This morning, Burberry announced an ambitious turnaround plan called ‘Burberry Forward’ designed to rescue the luxury brand from the trenches. It aims to “reignite brand desire, improve performance and drive long-term value creation,” and will see Burberry double down on its strengths as a British brand. Burberry has already appointed new leaders across its marketing, [...]
Burberry: Firm axes dividend as group slumps to loss November 14, 2024 Burberry has slumped to a loss and axed its dividend for the first half of its financial year as sales at the British luxury house plunged. In its interim results for the 26 weeks to 28 September, the group reported an operating loss of £53m, down from a profit of £223m in the same period [...]
Burberry braced for Moncler takeover as staff given heads up November 11, 2024 Luxury fashion house Burberry is braced to be taken over by Italian company Moncler amid staff at one of its flagship London stores being given a heads up on the deal, according to reports. Rumours began to circulate last week that the listed brand was set for a takeover by the skiwear maker, but both [...]
Burberry shares jump on Moncler takeover rumours November 4, 2024 Shares in British luxury retailer Burberry have jumped this morning on rumours that the fashion house could be a takeover target for Italian outerwear brand Moncler. Burberry’s share price rose more than seven per cent in early trades, before paring back gains to just over four per cent. Specialist fashion site Miss Tweed reported that [...]
Burberry, LVMH and Kering: Rebound of travel and China to boost luxury market October 22, 2024 Analysts have stressed the problems in the luxury market are cyclical, not structural, and predicted an upswing at brands like Burberry, LVMH and Kering as international travel looks set to rebound past pre-pandemic levels. The downturn in the luxury market, which has been suffering from the cost-of-living crisis in the West and a slowdown in [...]
Stefano Cantino: Who is Gucci’s new boss tasked with turning the luxury brand around? October 9, 2024 First Mulberry, then Burberry, and now Gucci – reshuffles at the very top of luxury businesses are definitely in vogue. Gucci, owned by Kering, has announced the appointment of Stefano Cantino as its new chief executive. He will take over from interim boss Jean-Francois Palus on 1 January 2025. Much like Mulberry and Burberry’s new [...]