FTSE 100 reshuffle: Burberry and Easyjet set to be downgraded August 23, 2024 FTSE 100 constituents Burberry and Easyjet are expected to be eliminated from London’s main market next month during a reshuffle. The main market’s quarterly rebalance is due on 20 September, with the review being based on prices at close on 3 September. Easyjet managed to claw back into the FTSE 100 in March, but the [...]
Burberry shares plunge to a 14-year low, but what’s behind the collapse? August 16, 2024 Once a beacon of British heritage and craftsmanship, Burberry’s recent decline has been striking. Shoppers and investors seem to have fallen out of love with the retailer. Sales have plunged, and Burberry shares have fallen 70 per cent over the past year. Earlier this week, the stock touched a 14-year low before rebounding. While the [...]
Mark Kleinman: Is troubled Burberry heading for a chequered flag? July 25, 2024 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City A.M. column. Today, he looks at Burberry’s threads wearing thin, Hammerson’s big Bicester sale and Love Island Is troubled Burberry heading for a chequered flag? Not only a chequered recent past, but on current evidence every [...]
LVMH revenue slides as luxury retailer continues to combat uncertain market July 23, 2024 LVMH, the multibillion-pound owner of Dior and Louis Vuitton, has reported a drop in revenue in the first half of the year, joining other major fashion brands which are suffering from a slump in demand. Revenue for the luxury retail brand came in at €41.7bn (£35bn) for the first half of 2024, the firm said [...]
Luxury faces a reckoning: What do Gucci, Burberry and LVMH need to do to survive? July 23, 2024 The post-pandemic luxury market was unstoppable. Record profits driven by China’s reopening and the revenge-on-lockdown ‘urge to splurge’ sent profits at all the major luxury brands to unbelievable highs. Briefly, it looked as though the upswing was going to stick, with pundits – and papers – asking if it would ever end. Now, results season [...]
Even as sales slump, Jonathan Akeroyd leaves Burberry a stronger brand July 18, 2024 As Akeroyd leaves the famous fashion brand, Steve Hatch unpacks the data asking: Is Burberry throwing the baby out with the bathwater?
Ocado: Shares in M&S-linked grocer tumble after being labeled ‘underperforming’ July 15, 2024 Shares in M&S-linked grocer Ocado have tumbled after being branded as 'underperforming' only a few weeks after being demoted from the FTSE 100.
Burberry: Meet the new CEO charged with ‘rebalancing’ luxury brand as job cuts loom July 15, 2024 Meet Burberry's new CEO, its fourth boss in a decade, charged with turning around beleaguered label as job cuts loom.
Burberry shares nosedive as sales collapse and firm cancels dividend July 15, 2024 Gerry Murphy, the chair of Burberry, described the results as “disappointing” and cited a “more challenging than expected” luxury market.
How did Burberry get stuck in the trenches? July 13, 2024 Burberry has struggled to compete with its luxuary peers over the past couple of years.