Burberry Group PLC (BRBY.L)
17 Nov 2017
Fri, Nov 10 2017
PARIS Belgian billionaire Albert Frere has raised his stake in Burberry from 4 to 6 percent, the British trench coat maker said on Friday, a day after it unveiled a plan to go further upmarket that sent its shares tumbling on cost concerns.
PARIS, Nov 10 Belgian billionaire Albert Frere has raised his stake in Burberry from 4 to 6 percent, the British trench coat maker said on Friday, a day after it unveiled a plan to go further upmarket that sent its shares tumbling on cost concerns.
LONDON/PARIS, Nov 9 A $190 polo shirt might seem expensive to most shoppers, but for Burberry's new Chief Executive Marco Gobbetti it is too close to the fashion industry's endangered mid-market for comfort.
* Mid-cap Hikma's trading update disappoints (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)
* CEO says started search for new creative head (Adds CEO comments, analyst reaction, updates shares)
LONDON (Reuters Breakingviews) - Burberry’s new boss is taking a big gamble on delayed gratification. Chief Executive Marco Gobbetti’s plans to take the British brand upmarket will mean no sales or operating margin growth for more than two years. Disappointed investors who lopped almost 1 billion pounds off Burberry’s market value on Thursday will now be unforgiving. Only flawless results and the right new designer will prevent a further slide in the share price.
* Cfo brown says ambition to improve op margin significantly from current 17 percent, although not to level of luxury leather goods companies, which are around 26 percent
LONDON, Nov 9 A drop in luxury group Burberry weighed on the UK's top share index on Thursday, which was stuck below a five-month high as results were the main focus.
* Cfo says total restructuring costs increased to 110 million stg, from 60 million stg Further company coverage: (Reporting By London Bureau)
* adjusted operating profit 185 million stg, up 17 percent underlying