Burberry will put the focus back on its core trench coats and scarves, be less ambitious with prices for bags and shoes, and use its British heritage appeal to win back customers, the struggling luxury brand said today in a strategy update.

RTÉ

Ireland

Burberry announces turnaround plan as sales keep sliding

Media Bias/Fact Check

Government of Ireland

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.

Shropshire Star

MNA Media

Ketley

Shropshire

England

United Kingdom

Burberry launches turnaround as sales continue to slump

First half sales tumbled by 22% to £1.09 billion, down from just under £1.4 billion last year

All Sides

Evening Standard

Evgeny Lebedev

Alfred Harmsworth (barrister)

Geraldine Mary Harmsworth

Patricia Harmsworth, Viscountess Rothermere

Carron Greig

London

Greater London

Burberry launches 'urgent' turnaround plan on sales slump  and fall into the red

Troubled British fashion house Burberry on Thursday announced cost-cutting plans after posting a loss, with the global luxury sector pressured by weak Chinese demand.

IBTimes Australia

IBT Media

Australia

Burberry Launches Turnaround Plan As Posts Loss

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, who joined the company in July, said he wants it to focus on “productivity, simplification and financial discipline”. The fashion house swung to a £53 million loss for the half-year ending September 28, down from £223 million profit for the same period last …

Jersey Evening Post

Claverley Group

Troubled British fashion house Burberry on Thursday announced cost-cutting plans after posting a loss, with the global luxury sector pressured by weak Chinese demand. China is the world's biggest spender in the luxury sector, accounting for half of global sales.

Tuko.co.ke - Kenya news.

Burberry launches turnaround plan as posts loss

Yen.com.gh - Ghana news.

Burberry’s new CEO Joshua Schulman has unveiled a strategic plan for the ailing luxury retailer designed to “reignite brand desire, improve our performance and drive long-term value creation”. The British retailer’s revenue plummeted 20% in the six months ending 28 September, with sales declining in both its retail and wholesale arms. It made an adjusted operating loss of £41m, a sharp decline from the £223m profit reported in the same period la…

Retail Gazette

New Burberry CEO launches 'urgent' turnaround plan as it plunges into loss - Retail Gazette

The luxury fashion house is planning £40 million in savings, promising to focus on its ‘core’ products and customers in future.  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, who joined the company in July, said he wants it to focus on “productivity, simplification and financial discipline”. The fashion…

perspectivemedia.com

Burberry on Thursday added that it had halted dividend payments as it looks to save about GBP40 million.

Burberry announces turnaround plan as sales keep sliding

Coverage Details

Bias Distribution

Ownership

Similar News Topics

Similar News Topics