Burberry Stock News

Burberry Group PLC (LSE:BRBY) can do many things well (including a natty line in trench coats), but persuading RBC Capital Markets to stay bullish is no longer one of them. The Canadian bank has knocked its rating down from "outperform" to "sector perform" and lopped its price target to £12 from £14.

Burberry Group PLC (LSE:BRBY) shares fell 3% to 1,052p on Wednesday after HSBC downgraded the British luxury fashion group to ‘hold' from ‘buy', taking a more cautious view of the stock. The bank's more cautious stance reflects softer momentum across the luxury sector, with the bank highlighting near-term challenges in soft luxury and muted trends that could limit investor appetite for the sector.

Burberry Group PLC (LSE:BRBY) remains one of JPMorgan's least-favoured luxury stocks despite signs that demand across the sector improved during the second quarter. Analyst Chiara Battistini retained an 'underweight' rating on the British fashion house, with the same for Gucci owner Kering SA (EPA:KER) (Kering SA (EPA:KER)) and Swiss watchmaker Swatch Group (SWX:UHR).

British retailer Frasers has disclosed a 4.16% exposure in Burberry Group , a regulatory filing from ​the UK-based luxury brand showed on Tuesday.

Burberry Group share price slipped by over 3% today as the luxury goods company published a strong trading statement that came out short of expectations. It slipped to 1,052p, inside the range in which it has been stuck at in the past few days.

Burberry posted flat sales growth for its first quarter, but noted that it saw growth across divisions for the first time in three years.

Burberry Group PLC (LSE:BRBY) has had its best quarter in years, and trench coats are leading the charge. The British luxury house posted first-quarter retail revenue of £455 million for the 13 weeks to 27 June, up 5% on last year, with comparable sales also climbing 5%.