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On Thursday, Burberry reported a 20% drop in its comparable retail sales for the quarter that ended Sep. 28, while its operating losses have mounted to £41 million in six months. New CEO Joshua Schulman laid out his turnaround plans on Thursday after Burberry reported a loss for the first half of its financial year and announced a 40 million pound .
On Thursday, Burberry reported a 20% drop in its comparable retail sales for the quarter that ended Sep. 28, while its operating losses have mounted to £41 million in six months. New CEO Joshua Schulman laid out his turnaround plans on Thursday after Burberry reported a loss for the first half of its financial year and announced a 40 million pound (.67 million) cost . Things have gone from bad to worse at Burberry, the beleaguered British luxury brand. On Thursday, the company's CEO said he is "acting with urgency" to stabilize the luxury brand as it reported a .Trench-coat maker Burberry said it is taking further steps to cut costs and change its pricing strategy, ramping up turnaround efforts after it slid to a loss on sharply lower sales. The British .
why is Burberry so down
Read more. Burberry has launched a £40 million cost-cutting programme as part of a plan to turn the company around, after sales continued falling in the second quarter. Chief executive Joshua . Schulman has tapped one of Burberry’s former star managers, Paul Price, as chief product merchandising and planning officer. Price will take up his new role on Dec. 9 and report to Schulman.LONDON/PARIS, Nov 5 (Reuters) - 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.
While expected — given its share price has plummeted by 70 per cent since this time last year — it is nonetheless a blow to the British fashion industry. Burberry is the UK’s largest luxury fashion export, and the headline attraction of London Fashion Week. Burberry is working to sell more clothing at full price as part of its brand elevation. On this measure, product sales not on discount rose 7 per cent in the full year and 63 per cent in the final quarter. Burberry has been putting a major focus on full-price sales, part of former chief executive officer Marco Gobbetti’s strategy to upgrade the brand and position it to play in the same arena as. On Thursday, Burberry reported a 20% drop in its comparable retail sales for the quarter that ended Sep. 28, while its operating losses have mounted to £41 million in six months.
New CEO Joshua Schulman laid out his turnaround plans on Thursday after Burberry reported a loss for the first half of its financial year and announced a 40 million pound (.67 million) cost . Things have gone from bad to worse at Burberry, the beleaguered British luxury brand. On Thursday, the company's CEO said he is "acting with urgency" to stabilize the luxury brand as it reported a .Trench-coat maker Burberry said it is taking further steps to cut costs and change its pricing strategy, ramping up turnaround efforts after it slid to a loss on sharply lower sales. The British .
Read more. Burberry has launched a £40 million cost-cutting programme as part of a plan to turn the company around, after sales continued falling in the second quarter. Chief executive Joshua . Schulman has tapped one of Burberry’s former star managers, Paul Price, as chief product merchandising and planning officer. Price will take up his new role on Dec. 9 and report to Schulman.
LONDON/PARIS, Nov 5 (Reuters) - 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.
While expected — given its share price has plummeted by 70 per cent since this time last year — it is nonetheless a blow to the British fashion industry. Burberry is the UK’s largest luxury fashion export, and the headline attraction of London Fashion Week. Burberry is working to sell more clothing at full price as part of its brand elevation. On this measure, product sales not on discount rose 7 per cent in the full year and 63 per cent in the final quarter.
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