Burberry issues profit warning, CEO resigns, stock price decreases, top funds hold shares

From Morningstar: 2024-07-16 05:17:00

Burberry issues a profit warning due to trading slowdown, anticipating an operating loss in H1 FY25 and below-consensus profit in FY25. CEO Jonathan Akeroyd steps down immediately, replaced by Joshua Shulman of Coach and Jimmy Choo.

Lindsell Train UK Equity and Finsbury Growth and Income are the top Burberry shareholders, owning over 5% each. Despite selling 135,000 shares, Lindsell Train still holds almost 5% of Burberry’s market cap. FGT underperformed in June due to luxury brand exposure but remains optimistic about growth potential in luxury brands like Burberry.

VT Sorbus Vector holds 3.16% of Burberry, with five funds holding over 2% and all top 10 above 1.5%. Globally, 2000 funds hold Burberry shares and experienced the recent price drop.



Read more at Morningstar: Burberry Stock is Plummeting – Are My Funds Affected?