14/11/24
Burberry has confirmed in its strategic plan ‘Burberry Forward’ that it is to commence with a £40m cost savings plan after posting a loss in its half year to 28 September 2024. Revenue had dropped to £1.09bn from the £1.4bn it generated for the same half last year, resulting in an adjusted operating loss of £41m, as against the £223m profit generated last year.
Joshua Schulman, Burberry CEO said: “My first few months have reaffirmed my belief that Burberry is an extraordinary luxury brand, quintessentially British, equal parts heritage and innovation. Burberry’s orginal purpose to design clothing that protects people frrom the weather is more relevant than ever.”
He added: “Building on our strong foundations, I am confident that Burberry’s best days are ahead.”
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