Burberry Group Plc Sponsored ADR (BURBY)
Burberry Stock Sinks. Is the Problem Its CEO or the Luxury Consumer?
Burberry's stock price plummeted on Monday after the luxury giant issued a profit warning, replaced its CEO and cut its dividend.
Burberry Boss Pays Price For Poor Performance As New CEO Announced
The near three-year tenure of Burberry CEO Johnathan Akeroyd came to an abrupt end this morning as he became the fall guy for plunging sales at British upscale fashion and accessories retailer Burberry amid a further warning on earnings.
Burberry shares sink as CEO exits amid profit warning and dividend suspension
Burberry shares sank on Monday after the U.K. luxury fashion group announced a profit warning and a dividend halt, and said its chief executive officer was being replaced.
Burberry shares drop 10% after the luxury giant issues profit warning and replaces CEO
Shares in Burberry plunged in early European trade Monday after a "disappointing" first-quarter performance led it to replace its CEO and axe its dividend.
Burberry switches CEO after turnaround stalls
Burberry Group PLC (LSE:BRBY) has parted ways with its chief executive, Jonathan Akeroyd, with immediate effect. The fashion house has appointed former Michael Kors and Jimmy Choo boss Joshua Schulman as his replacement, joining this week.
Burberry axes CEO and dividend, warns on profit
British luxury group Burberry named former Michael Kors boss Joshua Schulman as its new chief executive on Monday, axeing Jonathan Akeroyd after two years as it warned on profit and scrapped its dividend.
Burberry at risk of sluggish luxury rebound
JPMorgan Chase & Co (NYSE:JPM, ETR:CMC) has warned that the ‘re-acceleration' of the luxury sector could be slower than anticipated, leading to downside risk for luxury stocks including Burberry Group PLC (LSE:BRBY). The luxury sector has undergone a dramatic de-rating over the past year, due in no small part to a fall off in demand in the key China market.
Burberry tumbles as Deutsche Bank cuts sales numbers again
Burberry is set for a revenue slump with its first quarter update next month says City analysts as new designs and less spending by its aspirational customer base take a toll. Deutsche Bank has just reduced its sales forecast to minus 17% (from minus 12%) on weaker data from China and the US.
No bonuses for Burberry boss as luxury demand falls off
Burberry Group PLC (LSE:BRBY) chief executive Jonathan Akeroyd received zero annual bonuses last year due to a poor performance at the British luxury clothing brand. An annual remuneration report published late on Thursday stated: “The Committee judged that progress was made on refining our brand image, evolving our product and strengthening distribution, resulting in some of the strategic objectives being partially met.
Burberry to bluster in year ahead, cost cutting won't cut the mustard
Burberry Group PLC (LSE:BRBY) is set to see the weak trends seen at the end of its 2024 financial year continue into 2025, reckon Deutsche Bank analysts. “With limited evidence in the financials of any improvement in sales or gross margin, we have to turn to the operating cost management lever as the main highlight,” they stated.
