Burberry back in fashion as it unveils plan to return £150m to shareholders

“In a year of transition, we are pleased with our performance as we began to execute our strategy,” said Burberry chief executive Marco Gobbetti, who joined the company in July last year. He took on the role with the aim of refreshing and refocusing the British brand, which had been reporting dwindling sales.

“While the task of transforming Burberry is still before us, the first steps we implemented to re-energise our brand are showing promising early signs,” said Mr Gobbetti.

“With Riccardo Tisci now on board and a strong leadership team in place, we are excited about the year ahead and remain fully focused on our strategy to deliver long-term sustainable value." Read more

Burberry names Christopher Bailey's successor Burberry's new video campaign celebrates young LGBT+ community Burberry drops Mario Testino over sexual misconduct claims

Mr Tisci, formerly creative director at Givenchy, joined Burberry in March, replacing Christopher Bailey as chief creative officer.

Steve Clayton, manager of the Hargreaves Lansdown Select UK Growth Shares fund, said Mr Tisci’s arrival meant “the transition from the Christopher Bailey era looks complete”.

“Focus now is on pushing the brand ever further upmarket, beginning with exiting from store locations that don’t project the desired exclusivity,” said Mr Clayton, adding that new collections are “said to have been well received by both new and existing top-tier clients”.

He added: “These numbers will reassure investors. Market confidence in the Burberry story was knocked last November by Marco Gobbetti’s decision to invest time, effort and profits into the move to push Burberry ever more upmarket.

“We think Burberry are doing the right thing, because top luxury brands are fabulous assets that generate cash reliably, year after year.”

fanera | laminuota fanera