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On Tuesday, May 13, 2025, the logo device for the equestrian knight on the flag near the luxury boutique Burberry Group PLC in London, UK.
Bloomberg | Gets the image
Sherber On Wednesday, they announced organizational changes, against the backdrop of prolonged protection efforts in a luxury house.
The company said measures could lead to “reducing the costs associated with people, which can affect about 1,700 roles worldwide” throughout the life of the program, which will be completed in 2027.
It is estimated that steps – which include reducing purchases and real estate – lead to a cost of 60 million pounds ($ 79.9 million) and note the latest stage of CEO Joshua Schulman’s strategy for improving the success of the British heritage brand. From this follows 40 million pounds to expenditures announced In November, the cost savings up to £ 100 million is evaluated.
Desryaping will affect about 20% of the total Burberry number, and the majority should occur in the role of the office, as well as in shops and at the factory in Caslford, England.
The shares jumped 8.5% shortly after the open market in London.
Burberry sales fell slightly less than expected in the fourth quarter, three months before March, decreased by 6%. Analysts expected a 7% decreased in consensus consensus assessment.
For the financial year, the sale decreased by 12% compared to the expected decrease by 13%. The total income for the year amounted to £ 2.461 (3.273 billion), a little ahead of approximately 2.451 billion pounds.
Sales have fallen across all regions a year and quarter, led by weakness in the Asia-Pacific region. Sales in America – which has become a bright spot of positive indicators in the third quarter – in three months 4%ended to complete the financial year.
Previously, Burberry labeled the US as a bright spot on sales in the third quarter. However, on Wednesday, the fashion house stated that “the current macroeconomic environment became more uncertain in the light of geopolitical events.”
“While we are working on a complex macroeconomic background and are still in the early stages of our turn, I am more optimistic than if -something that the best days of the berbers are ahead and that we will provide a sustainable profit over time,” Schulman said.
The company did not give specific recommendations on the US tariff impact. This has stated “an increase in geopolitical tension, leading to a gradual non -ambiguous tariff risk compared to the Central Planning scenario” as a key risk of lowering.
Burberry CEO Kate Ferry said the tariff influence was currently “very dynamic” and that the company will not be attracted to accurate figures.
“We are a well -diversified business. The United States is really important, but it is 19% of our business. Wherever tariffs are ultimately, we will be able to answer,” Ferry said during a call on Wednesday.
Shulman in November announced Urgent plans for the “correct course” After a long period of lack of productivity of the company against the background of reducing sales and many changes in management.
Strategic overhaul means Last iteration From the 169-year-old retailer. Shulman joined In July, from Michael Kors, who became the fourth CEO of the brand over the last decade.
This is a developing story. Please check the updates.
