Burberry profits (Brby) in the third quarter of fiscal year 25

Burberry on Friday reported a minor fall than expected in sales in the third fiscal quarter, providing a first glance of the efforts of executive director Joshua Schulman to renew the besieged British fashion house.

Comparable sales decreased 4% in the three months until December. Analysts had anticipated a 12% decrease in an estimate of consensus compiled by the company.

Schulman announced urgent plans in November to “correct the course” after a prolonged period of low performance of the company in the midst of a decrease in sales and a series of management changes.

The plans, which according to Schulman aimed to return the brand to their “original purpose”, sent Burberry’s actions to a historical maximum, and since then the shares have continued to rise thanks to the renewed confidence of investors.

The announcement was delivered together with Burberry’s results for the first semester that ended on September 28, 2024, during which sales were contracted 20% per second consecutive quarter.

The strategic review marks the latest version of the 169 -year -old retailer. Schulman arrived in July from Michael Kors, becoming the fourth executive director of the brand in the last decade.

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