Burberry news and archive

Burberry reportedly seeking new chairman amid boardroom shake up

Days after the announcement that its former CEO was being replaced by Joshua Schulman, it is now being reported that Burberry is also seeking a possible successor to its current chairman, Gerry Murphy. While an exact departure date for Murphy has not yet been cemented, it is believed that an “indirect hunt” has been launched in a bid to find...

Business

PETA storms Burberry AGM to call for justice in cashmere industry

While Burberry’s annual general meeting may have already had much to discuss in the way of a new CEO and plans to counter continued poor performance, the biggest upset actually came from that of the People for the Ethical Treatment of Animals (PETA). Representatives of the animal rights organisation stormed the meeting chanting “shame on...

Business |Opinion Featured

Why Burberry is replacing its CEO

Burberry has a new CEO and is making swift changes at the top after a lackluster performance in the first half of 2024. When it was reported last week that Burberry had a strategy problem, little was known that just a few days later chief executive Jonathan Akeroyd would be ousted from the British heritage brand. Since Mr Akeroyd's appointment,...

BusinessFeatured

Burberry ropes in Joshua Schulman as CEO after disappointing Q1

Luxury conglomerate Burberry reported first quarter retail revenues of 458 million pounds, down 22 percent at reported rates and 20 percent CER. The company also separately announced the appointment of Joshua Schulman as new chief executive officer and executive director, replacing Jonathan Akeroyd who is stepping down and leaving the company...

Fashion |Opinion Featured

Burberry's luxury ascent has a checkered journey

Burberry, the venerable British fashion house, finds itself at a crossroads in its quest for luxury status. The brand's transformation, which began under Rose Marie Bravo's stewardship from 1997 to 2006, saw its valuation soar from 200 million pounds to 2 billion pounds. This period marked Burberry's shift from a staid heritage label to a global...

Business

Burberry said to be preparing to cut jobs amid falling profits

British luxury brand Burberry is reportedly preparing to scrap hundreds of jobs amid an alleged restructuring programme reacting to a drop in profits. It is believed that the label has lost a third of its stock market value since the beginning of 2024, putting it at risk of being taken off the Financial Times Stock Exchange (FTSE) 100, according...

Fashion |In Pictures Featured

A summer of sports kicks off with Euro 2024, here are the campaigns to know

This summer is set to be one of the books in the world of sports, with the Paris Olympics on the horizon and UEFA Euro 2024 kicking off today in Germany. As such, there has been an influx of football-related campaigns from both sportswear brands and fashion retailers alike, celebrating the highly anticipated European tournament, with many of the...

Retail |In Pictures Featured

Retail inspiration: The latest store concepts from around the world

Retailers around the world are striving to improve the shopping experience. While one shop may pamper customers in-store with elements such as a lounge area, another could be looking to empower customers by promoting a 'do-it-yourself' motto through technology. Several retailers, such as London-based multi-brand LN-CC, are fighting their way out...

Business |OPINION Featured

Burberry's sales slump signals struggle to realise potential

In a seemingly perpetual turnaround, Burberry's latest results, unveiled on Wednesday, illustrate the ongoing struggle for the brand to attract shoppers to its contemporary British luxury wares. Despite its efforts, Burberry's sales plummeted by 12 percent in the first quarter, accompanied by a sharp decline in share prices over the past year,...

BusinessFeatured

Burberry forecasts challenging H1 ahead

Burberry’s revenue for FY24 remained flat at CER and declined 4 percent reported to 2,968 million pounds, while comparable store sales were down 1 percent offset by a challenging second half year performance, down 8 percent. Adjusted operating profit fell 25 percent CER and 34 percent reported, while adjusted profit before tax was 383 million...

People

Burberry CFO Kate Ferry takes short leave of absence

Burberry Group’s chief financial officer Kate Ferry will be taking a short leave of absence after undergoing unscheduled surgery. The company said in an announcement that Ferry is expected to resume her normal duties in June 2024. Ferry joined Burberry last year. She is responsible for finance and business services functions reporting to chief...

Business

Burberry wins trademark infringement case in China

British heritage fashion house Burberry has been awarded six million renminbi (675,668 pounds) in damages in a Chinese trademark infringement case. Lusheng, a Chinese law firm and patent agency specialising in multinational intellectual property, helped Burberry win the significant trademark infringement case against Chinese company Xinboli...