Week ahead: Vodafone, BT and Burberry earnings in focus as crucial US inflation reading looms May 12, 2024 Earnings from Vodafone, BT and Burberry take centre stage in the City's corporate diary this week, alongside a crucial inflation reading across the pond that could put the brakes on the FTSE 100’s record rally.
WH Smith finance chief set to retire as senior figure at Burberry picked as replacement for role March 15, 2024 WH Smith has announced that its chief financial officer, after more than two decades at the business, is set to leave the business, to be replaced by a senior member of high-fashion Burberry. Robert Moorhead, the current CFO and chief operating officer of WH Smith, will retire from the business. He joined the company in [...]
Burberry: Luxury British brand’s investors hopeful of China spending resurgence May 12, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
London’s tourist tax: Struggling luxury brands LVMH, Mulberry and Burberry have other problems, too January 17, 2024 Mulberry has fallen out of fashion with investors as shares slumped over four per cent this morning, with the luxury retailers expressing growing concerns about flattening sales and the tourist tax. The British fashion house, best known for its leather handbags, has had around £3bn wiped off its market value in the last five months [...]
Burberry tops expectations as luxury consumers continue to flock November 17, 2022 Burberry smashes expectations, as the luxury brand appears to dodge cost of living concerns in Europe and weathers the ongoing pandemic-related restrictions in its largest market, China. Group revenues climbed by 11 per cent to £1.35bn in the half year, beating projections of £1.32bn, while operating profit increased 27 per cent to £263m from the [...]
Burberry boosted by China re-opening as share price darling reports solid growth May 18, 2023 Burberry boss Jonathan Akeroyd said this morning he was “very pleased” with a set of full-year results that saw reported profit up more than 20 per cent year on year. Revenues topped the £3bn mark in the twelve months to the start of April this year, with the fourth quarter given a significant boost by [...]
Burberry: Designer raincoats remain must-have despite inflation as revenues up 17 per cent July 14, 2023 Designer Burberry reported revenues of £589m during the first quarter of the year, a 17 per cent lift compared to the same period last year, as the luxury brand was boosted by demand for its rainproof trench coats. The British designer, best known for its tartan bags and scarfs, said outerwear comparable store sales were [...]
FTSE 100 close: BT and Burberry slump to bottom of London index as easyJet regains ground May 18, 2023 London’s FTSE 100 kicked higher this today, driven by retailers offsetting a sharp sell off in BT shares after it said it will shed 55,000 workers over the next decade. The capital’s premier index jumped 0.25 per cent to 7,742.29 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]
Burberry: China’s covid restrictions flatten sales as Europeans ramp up luxury item spend January 18, 2023 Heavy Covid restrictions in China weighed down sales for luxury British fashion giant Burberry in the third quarter of last year. In the 13 weeks to December, the UK firm reported £756m in retail revenue in its comparable store sales around the world, a one per cent increase on the previous year. Sales in China [...]
FTSE 100 jumps as China zero Covid u-turn sends investors pouring into Burberry January 4, 2023 The prospect of a rebound in Chinese tourism after Beijing dismantles its tough zero-Covid policy has sent luxury fashion firm Burberry to near top of the FTSE 100 today. The more than five per cent share price kick helped drag London’s FTSE 100 index up 0.41 per cent to 7,585.20 points. The gain extends yesterday’s [...]