Burberry Turnaround Strategy Shows Promise

2 months ago

Chloe Malay

"So for Burberry this also confirms that the turnaround under the new CEO is working. So he's refocused on the Burberry classics of trench coats and scarves, leaving behind a previous push into handbags that really failed. And that seems to be paying off kind of going back to its roots. And he's also made some big cost cuts. So earlier this year the company announced plans to get rid of about a fifth of its workforce. So all of that this kind of refocus on the British roots of Burberry and then also those cost cuts seem to be working quite well and paying off and analysts have said that all the boxes were ticked that the execution was on track."

The commentary focuses on Burberry's strategic turnaround under a new CEO, emphasizing a return to its traditional product lines and significant cost cuts, which have resulted in improved retail sales growth and share gains of up to 5%.

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