Burberry shares down 15%

Monday, 14 November 2011
Burberry's chief executive Angela Ahrendts will attempt to reassure nervous investors with a strong set of interim results on Tuesday.

Shares in the fashion house have been among the most volatile since the market chaos in August, because of fears of weakening demand in China and eurozone countries.

From a record high of £16 in late July, they have lost almost 15% of their value, closing at £13.77 on Friday.

Back in October, shares in Burberry were down on the FTSE 100 even after the luxury fashion retailer reported a rise in revenue in the first half ended 30 September 2011.

In the first half of the year, total revenue was up 30 per cent on an underlying basis to £830 million, while underlying retail revenue increased 45 per cent to £528 million.

Around half of the growth in retail was attributed to strong sales of outerwear and large leather goods.
 

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