Burberry Group Plc Sponsored ADR (BURBY)
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.
Burberry surge highlights how 'luxury is Europe's tech'
With hindsight, Burberry Group PLC (LSE:BRBY) was the easiest trade of the week. Only last week, Cartier owner Richemont flagged luxury was turning up, especially in the US but such is the market's downer on Burberry that the read-through was either not made or dismissed.
Burberry Stock Soars After Q3 Sales Fall Less Than Estimated
Burberry (BRBY) shares in London trading surged after the luxury group posted better-than-expected sales over the third quarter, raising investor hopes that the sector is on the path to recovery.
The Whole Fashion Industry Restarts From Burberry's Quarterly Report
The economic slowdown in China has impacted high fashion companies, but recent positive trends in international demand are driving stock prices up. Richemont and Burberry's quarterly reports have sparked optimism, with Burberry showing signs of recovery despite still struggling with sales declines. Burberry's strategic focus on iconic garments and improving international demand are key growth drivers, though profitability remains a concern.
Burberry comp sales beat estimates
CNBC's Robert Frank reports on the latest news.
