Michael Kors eyes further price hikes as UK sales dive
Michael Kors’ UK sales plunged last year as customers pulled back their spending on pricey purchases. The designer brand’s sales in the country were down by a tenth in the year to April as in-store...
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Burberry gears up to slash hundreds of jobs under cost-cutting programme
Luxury fashion brand Burberry is gearing up to slash hundreds of jobs under a cost-cutting programme as its profits plunge. The retailer has lost over a third of its stock market value since the start...
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Burberry replaces CEO with ex-Michael Kors boss as it issues profit warning
Burberry has replaced its chief executive, effective immediately, as it warned that annual profits will fall short of expectations after first quarter sales fell by a fifth. The luxury fashion house...
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Burberry on the hunt to replace chairman
Burberry is searching for a new board member who could take over from chairman Gerry Murphy, who has been in the role since 2018. The luxury fashion retailer is working with headhunters to find two new...
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Burberry faces FTSE 100 demotion as shares fall
Burberry is facing a demotion from the FTSE 100, ending its 15-year stay on the London Stock Exchange’s blue-chip gauge. Shares in the luxury retailer have slumped by a third over the past three months...
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Kurt Geiger pulls in record profits despite luxury slowdown
Luxury footwear brand Kurt Geiger pulled in record profits bucking the trend of weak demand across the wider market. The footwear brand saw profit hit £40m for the year to February, as shoppers...
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Burberry names former Gucci exec as new CMO
Burberry has named former Gucci CMO Jonathan Kiman as its new chief marketing officer, who is due to step up to the plate on 9 September. Kiman previously held a number of senior roles at the rival...
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Burberry exits FTSE 100 after share price plummet
Burberry has been demoted from the FTSE 100 following its September quarterly review following its share price fall. The luxury fashion house will join the FTSE 250 Index, with the changes due to take...
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Burberry shares tumble to 15-year low amid questions over its luxury brand...
Burberry’s market value has plummeted to its lowest level in 15 years amid scepticism from City analysts regarding its ability to maintain its status as a “high-end luxury brand.” On Monday, the...
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7 retailers that have lost their CEOs in recent months
There has been a revolving door in retail’s boardrooms with a swathe of CEOs exiting in recent months with the CEOs of John Lewis and Matalan stepping down this week alone. Retail Gazette takes a look...
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