On December 13, 2024, shoppers walked into the Burberry store at Fashion Valley, an upscale shopping mall in San Diego, California.
Kevin Carter | Getty Images News | Getty Images
Burberry Fiscal third-quarter sales reported on Friday fell less than expected, providing the first glimpse into Chief Executive Joshua Schulman’s efforts to revive the struggling British fashion company .
Comparable sales fell 4% in the three months to December. Analysts had expected a 12% decline in the consensus estimate compiled by the company.
Shulman announced in November Emergency plan to ‘correct course’ The company has been underperforming for a long time due to falling sales and a series of management changes.
Schulman said the plans were aimed at returning the brand to its “original purpose,” sending Burberry’s stock price to a record high and has since continued to move higher as investor confidence has returned.
The announcement is released alongside Burberry’s results for the first half of the year ended September 28, 2024, during which Sales shrank 20% for the second consecutive season.
This strategic adjustment marks the Latest iteration This 169-year-old retailer. Shulman join in He left Michael Kors in July, becoming the brand’s fourth chief executive in nearly a decade.
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