Burberry Stock News

Burberry's stock price spiked recently following its interim results, which is striking considering that neither the financials nor the outlook encourage confidence. It is however somewhat comforting that the company has a turnaround plan in place now, which could result in better days. At the same time, only limited improvements are to be expected in the short-term.

Burberry is hoping "scarf bars" in its stores, new ranges of puffer jackets, and a sharper focus on its classic products rather than new fashions will help to turn its brand around.

Burberry is aiming to boost waning sales by refocusing on heritage designs and statement pieces under sweeping revamp plans announced Thursday. Shares jumped over 22% on the announcement, logging their biggest-ever intraday gain.

British luxury fashion giant Burberry has embarked on a £40 million cost-saving programme as part of a comprehensive turnaround strategy unveiled by its new chief executive, Joshua Schulman. Appointed in July following the departure of Jonathan Akeroyd, Schulman aims to stabilize the company after years of declining performance and brand missteps.

Burberry (BURBY) on Thursday outlined a new strategy that will focus on scarves and the outerwear such as trenchcoats it is known for as the British luxury group reels from a sharp quarterly loss.

Burberry Group PLC (LSE:BRBY) faces a race to revive fortunes by turning back to its roots after the luxury firm's strategic update and results on Thursday offered initial relief. AJ Bell analyst Russ Mould noted the turnaround, which boss Joshua Schulman said would see focus return to its core traditional product range, was needed.

Shares in Burberry jumped by a fifth after the British fashion brand's new boss pledged to “act with urgency to course correct” the company after it swung to a first-half loss.

Burberry's CEO Joshua Schulman says the brand is undergoing an urgent "course correct." The strategy aim comes as the luxury brand reports revenue plummeted 22% in its interim results.