British luxury clothes, perfumes and shoes producer Burberry (BRBY.UK) loses 1.5% today as FTSE Russel informed that the company, will probably drop out from the main, British index, since September 2024 rebalancing. Burberry is down 50% on a year-to-date basis. The company expects that full year profits will drop 40% YoY. Sales of luxury products in Asia and China (historically 'growth sector') dropped 21% and 23% respectively. Burberry changed CEO last month, to Joshua Schulman, former Jimmy Choo CEO (since 2007 to 2012). On the other hand, dropping out from the index maybe not a signal of further declines, as short-sellers may start closing their bets. Overall, Burberry business is definitely slowing, and a scale of 2023-2024 decline is similar to 2008 GFC.
BRBY.UK (W1)
Shares of Burberry tested local peaks from 2004.
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
قم بفتح حساب حقيقي جرب الحساب التجريبي تحميل تطبيق الجوال تحميل تطبيق الجوال
Source: xStation5
