Burberry Group Plc Sponsored ADR (BURBY)
Burberry: Is the turnaround already priced in?
Deutsche Bank has downgraded Burberry Group PLC (LSE:BRBY) to 'hold', arguing that much of the turnaround story is already reflected in the share price following a stronger-than-expected end to its financial year. Analyst Adam Cochrane said early signs of brand recovery are encouraging, but further upside now depends on more ambitious execution.
As Burberry lays off 1,700, its logo—and legacy—no longer guarantee success
Burberry, the brand best known for its iconic checkered pattern and fashionable trench coat, announced Wednesday that it may cut around 1,700 jobs worldwide in a major cost-reducing effort. The news comes as British luxury brand reported a staggering 117% drop in annual profits, or around $87.8M (£66m), over the last financial year.
Burberry shares strut 15% higher as analysts like look of the turnaround
Burberry Group PLC (LSE:BRBY) shares strutted over 15% higher on Wednesday as investors and analysts drooled over the British luxury brand's stronger-than-expected fourth-quarter performance and new cost-cutting targets. Deutsche Bank said the FTSE 250-listed group was "showing further progress on its brand turnaround" with sales of outerwear and scarves in the fourth quarter better than the industry average and leather goods weaker.
Luxury: Burberry Plans to Cut Staff as Push Into High Fashion Flops
Burberry plans to cut almost one-fifth of its work force as its new chief executive officer Joshua Schulman tries to turn around the British trench-coat maker. The London-based company's push into high fashion has flopped amid a downturn in global demand for luxury goods.
Burberry Plans to Cut 1,700 Jobs to Tackle Luxury Slump
The British label said it is continuing with restructuring as part of a wider spending downturn that is plaguing the luxury sector.
Burberry to cut up to 1,700 jobs after swinging to loss
Burberry Group PLC (LSE:BRBY) has reported final results showing evidence that its turnaround started to gain traction in the second half, though it swung to a loss and has seen recent trading hampered by an uncertain economic backdrop. The luxury brand has proposed changes to the business, including up to 1,700 of job cuts that it said should "unlock" a total of £100 million of savings in two years, up from its previously announced £40m cost-savings programme.
Embattled Burberry announces new turnaround steps even as sales fall less than expected
Burberry on Wednesday announced a slew of organizational changes, amid continued turnaround efforts at the embattled luxury house. The company said the measures could lead to a "reduction in people-related costs which could impact around 1,700 roles globally" over the lifetime of the program, set to complete in 2027.
Burberry shares fall as luxury rival Kering reports worse sales
Burberry Group PLC (LSE:BRBY) shares fell 3.4% after Paris-listed rival Kering, owner of the Gucci label, reported a larger fall in first-quarter sales than analysts had forecast. Posting results overnight, Kering said sales fell 14%, with a 25% drop at Gucci and 9% at Yves Saint Laurent.
LVMH shocker hits luxury shares in Paris and London, including Burberry
A shocker of a first-quarter update from Louis Vuitton Moet Hennessy (EPA:MC) saw its shares tank and other luxury names dragged lower too. The world'a largest luxury company, maker of Moët & Chandon champagen, Hennessy cognac and owner of Louis Vuitton and Christian Dior fashion houses, reported a 2% fall in revenue on a reported basis and 3% on an organic basis.
Burberry still stands out despite the dark clouds over the luxury sector
Deutsche Bank has struck a cautious tone on the European luxury goods sector, warning that ongoing trade tensions and weakening demand in China could keep a lid on share price gains this year. The note, published this week, points to growing headwinds facing the industry — from Donald Trump's new tariff regime, which threatens to disrupt global supply chains, to signs of softening appetite among high-end consumers in key Asian markets.
Bears are Losing Control Over Burberry Group (BURBY), Here's Why It's a 'Buy' Now
Burberry Group (BURBY) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.
Burberry on the right recovery path, suggests Canadian bank
Burberry Group PLC (LSE:BRBY) has been rewarded for its better-than-expected third-quarter numbers with a string of estimate hikes from Canadian bank RBC. Sales acceleration was broad-based, RBC added, underpinned by scarves and outerwear and a first step in the right first step in the right direction said the bank.
