Burberry Group Plc Sponsored ADR (BURBY)
Burberry up 14% as City welcomes turnaround plan
Burberry Group PLC's (LSE:BRBY) shares surged 14% in early trading as investors responded positively to a turnaround strategy introduced by new CEO Joshua Schulman, which includes a higher-than-expected £40 million in cost-savings. The British luxury fashion brand announced its “Burberry Forward” plan following a challenging first half, marked by a 22% drop in sales to £1.09 billion and pre-tax losses of £80 million.
Burberry looks to heritage with turnaround plan as losses mount
Burberry Group PLC (LSE:BRBY) has launched efforts to revive its loss-making operations by doubling down focus on heritage and core products. Chief executive Joshua Schulman unveiled the turnaround bid on Thursday, noting Burberry had “moved too far” from its core with “disappointing results”.
Burberry announces turnaround plan as sales continue to slide
Burberry's new CEO Joshua Schulman announced a turnaround strategy for the struggling British luxury brand on Thursday, as sales continued to slide in its second quarter.
Concerns mount for Burberry, LVMH as global luxury sector in worse state since financial crisis
Global consulting firm Bain & Company is projecting a 2% contraction in global luxury sales in 2024, representing the first annual decline since the global financial crisis in 2008, barring the Covid-19 period. This year's decrease, expected to bring the personal luxury goods market to €363 billion, highlights weaker demand in critical markets such as China and South Korea, even as sectors like beauty and eyewear show resilience.
Moncler not in talks to take over Burberry, sources say
Italy's Moncler MONC.MI is not in talks to take over Burberry , four sources close to the matter said on Monday in response to a report by Britain's Mail on Sunday that a bid by Moncler was imminent.
Burberry boosted by more Moncler rumours ahead of results
Ahead of results from Burberry Group PLC (LSE:BRBY) later this week, shares in the UK fashion house continued to be supported by takeover rumours and speculation. Last week, there was speculation that Moncler, the Italian skiwear giant, was eyeing a potential takeover of the UK fashion group.
Moncler repeats it won't comment on 'unsubstantiated rumors' about Burberry
Italy's Moncler on Monday reiterated it would not comment "on unsubstantiated rumors", when asked about a Daily Mail report about a possible takeover by the luxury outerwear maker for British luxury brand Burberry.
Burberry turnaround in focus as takeover rumours swirl
Burberry Group PLC (LSE:BRBY) will provide interim results on Thursday, November 14 after rumours emerged Moncler was eyeing up the luxury fashion firm as a potential takeover target. Reports earlier this month signalled Bernard Arnault, chief executive of LVMH which recently invested in Moncler, was keen to push such a deal to create an “outdoor specialist giant”.
Bargain Burberry shares make for buy opportunity - analyst
Burberry Group PLC (LSE:BRBY)'s share have been in the doldrums for nigh on 19 months now, but the prospect of a takeover bid from Moncler has piqued the interest of analysts at RBC Capital Markets. Though only a rumour, there are clear synergies between the two business, RBC highlighted.
Burberry stock rises after report Moncler is mulling a bid
Shares of Burberry rose Monday after a media report over the weekend suggested that its peer Moncler is mulling a bid for the British luxury retailer. CNBC's Charlotee Reed reports.
Burberry's new CEO faces outlet store and pricing dilemmas
Burberry's new CEO Joshua Schulman faces an uphill task to turn around the British luxury brand whose sales have declined sharply while its share price has dropped 40% this year, stoking speculation it could be a takeover target.
Burberry gains as Moncler reportedly considers takeover bid
Burberry Group PLC (LSE:BRBY) shares ticked higher on Monday following a report that it could be a takeover target of puffer jacket maker Moncler. According to industry blog Miss Tweed, Moncler could be considering launching a bid for Burberry in order to create an “outdoor specialist giant”.
