Reported 20 days ago
Burberry's newly appointed CEO Joshua Schulman faces significant challenges in reviving the luxury brand amidst a sharp sales decline and a 40% drop in share price this year. While the luxury market suffers from high interest rates and inflation, Burberry has underperformed against peers, raising concerns about its future as a potential takeover target. Schulman, the company's fourth CEO in a decade, is set to present a new strategy on November 14, with a focus on the brand's outlet stores that currently account for a substantial portion of sales and profitability, yet may undermine its efforts to elevate its luxury status.
Source: YAHOO