Burberry Group PLC (BRBY.L)
26 May 2017
LONDON The challenge facing Marco Gobbetti when he becomes Burberry CEO was brought into sharp focus as the British luxury brand reported a 21 percent drop in underlying pretax profit, hit by weak demand in the United States and Hong Kong.
* Shares up 2.6 pct (Adds CFO comments, analyst reaction, shares, buyback)
LONDON, May 18 Britain's Burberry reported a 21 percent underlying drop in pretax profit to 462 million pounds, dragged down by weak wholesale demand in the United States, and showing the challenge facing Marco Gobbetti when he becomes CEO in July.
NEW YORK (Reuters Breakingviews) - Coach is paying luxury prices to catch up with the Europeans. The U.S. handbag maker is plunking down $2.4 billion for rival Kate Spade, a figure not justified strictly by the numbers. But Coach's owners like the $13 billion company’s move to a multibrand portfolio, which has worked for industry leaders LVMH and Kering. Mature luxury marques can no longer expect to succeed on their own.
May 4 British luxury brand Burberry plans to move around 300 jobs from London to a new office in Leeds, northern England, to consolidate its back-office operations and cut costs.
* Intention to open a new office in Leeds, strengthening its ties with Yorkshire.
* Mid-caps rise (Adds detail and quote, updates with closing prices)
LONDON British luxury brand Burberry reported a slowdown in quarterly sales growth on Wednesday as tough trading in the United States checked recent gains driven by a weaker pound and showed the problems facing its new chief executive. | Video
LONDON, April 19 British luxury brand Burberry reported a slowdown in quarterly sales growth on Wednesday as tough trading in the United States checked recent gains driven by a weaker pound and showed the problems facing its new chief executive.
LONDON, April 19 Britain's top share index came under pressure once again on Wednesday, giving up the gains it had made in 2017 as sterling held close to a six-and-a-half-month high after Prime Minister Theresa May called for a snap general election.