Shares in fashion brand jump as ‘urgent’ cost-cutting programme announced following half-year lossesBusiness live – latest updatesBurberry has unveiled a £40m cost-cutting programme as its new chief executive pledged to “stabilise the business” with a turnaround plan aimed at reviving the fortunes of the ailing British luxury fashion brand.Joshua Schulman, the former Coach boss who replaced his ousted predecessor, Jonathan Akeroyd, in July, said the company was “acting with urgency” after straying too far from its roots of “timeless core collections” and outerwear, including trench coats and scarves with its distinctive Burberry check. Continue reading…
Source link : https://www.theguardian.com/business/2024/nov/14/burberry-turnaround-chief-40m-cuts-scarf-bar-rollout-shares
Author : Kalyeena Makortoff
Publish date : 2024-11-14 08:56:06
Copyright for syndicated content belongs to the linked Source.
Burberry’s turnaround chief plans £40m cuts and ‘scarf bar’ rollout
