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Top related persons:
Burberry - 4 Gerry Murphy - 3 Jonathan Akeroyd - 3 — - 2 Versace - 2 Joshua Schulman - 2 Akeroyd - 2 Michael Kors - 2
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Burberry - 4 Service - 1 Swatch - 1 Business - 1 Bain & Company - 1 Richemont - 1 Cartier - 1 Financial Times - 1

Search resuls for: "Gerry Murphy"


4 mentions found


☆ It looks like the party's over for luxury goods in China
  + stars: | 2024-07-17 | by ( Grace Dean | ) www.businessinsider.com   time to read: +5 min
Read previewHugo Boss, Burberry, Richemont, and Swatch have all called out slumping sales in China this week as consumers cut back on luxury spending. Swiss watch group Swatch said it expects the Chinese market "to remain challenging for the entire luxury goods industry until the end of the year." But much of this spending has been overseas, and sales in China have fallen for some of the world's biggest luxury brands. AdvertisementBefore the pandemic, about two-thirds of Chinese luxury spending occurred outside mainland China, plummeting to less than 10% in 2021 and 2022 because of travel restrictions, according to data from Bain. The consultancy said that this started to rebound in 2023 with the return of overseas tourism, with an estimated 30% of luxury spending taking place outside mainland China.
Persons: —, Hugo Boss, Burberry, Gerry Murphy, they've, Bain, Luca Solca, Vacheron Constantin, Marc Jacobs, Versace, Richemont Organizations: Service, Swatch, Business, Bain & Company, Richemont, Cartier, Burberry, Financial Times, Bain, Prada, The Financial Times, Luxury Summit Locations: China, Swiss, Americas, Hong Kong, Macau, Japan, South Korean, East
☆ Burberry Replaces C.E.O. Amid ‘Disappointing’ Results
  + stars: | 2024-07-15 | by ( Gregory Schmidt | More About Gregory Schmidt | ) www.nytimes.com   time to read: +1 min
Burberry, the British luxury brand, on Monday reported falling sales, suspended its dividend and replaced its chief executive, as it grapples with a pullback in spending by consumers on high-end fashion and related goods. Burberry said revenue fell more than 20 percent in its latest quarter, which ended June 29. To bolster its balance sheet, Burberry paused its dividend. The company named Joshua Schulman as its new chief executive, replacing Jonathan Akeroyd, who is leaving the company immediately. The abrupt departure of Mr. Akeroyd, a fashion industry veteran who was previously chief executive of Versace and Alexander McQueen, came less than two and a half years after he was tapped to run Burberry.
Persons: ” Gerry Murphy, Burberry, Joshua Schulman, Jonathan Akeroyd, Akeroyd, Versace, Alexander McQueen Organizations: Burberry Locations: London
☆ Burberry shares drop 11% after the luxury giant issues profit warning and replaces CEO
  + stars: | 2024-07-15 | by ( Katrina Bishop | ) www.cnbc.com   time to read: +1 min
Shares in Burberry plunged 11% in early trading on Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend. The luxury giant said that if the recent trading slowdown continues, it expects to report an operating loss for the first half of this year and full-year operating profit below current consensus. It also suspended its dividend and named Joshua Schulman — who formerly led Michael Kors and Coach — as new CEO. Jonathan Akeroyd is stepping down "with immediate effect by mutual agreement with the Board," the company added. Burberry said comparable store sales fell 21% in the 12 weeks to June 29, with retail revenue coming in at £458 million for the period.
Persons: Joshua Schulman —, Michael Kors, —, Jonathan Akeroyd, Burberry, Gerry Murphy Organizations: Burberry, Asia Pacific Locations: EMEIA, Europe, East, India, Africa, Americas
☆ Burberry CEO is out after company warns about its profit
  + stars: | 2024-07-15 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —British luxury brand Burberry is replacing its chief executive following another disappointing quarter in which sales plunged more than 20%. Jonathan Akeroyd is leaving Burberry with “immediate effect,” the company said in its earnings release Monday, and replacing him with Joshua Schulman, a luxury wear veteran that has held CEO roles at Coach and Michael Kors. A global slowdown on spending on luxury goods has also forced Burberry to issue a profit warning, and it scrapped its dividend. “There is a sense that Burberry has been on the back foot and that Jonathan Akeroyd’s revitalization plans have largely failed to stop the rot,” Saunders told CNN. “A course correction has been needed for some time and Burberry is hoping a new CEO can deliver this.”
Persons: Jonathan Akeroyd, Joshua Schulman, Michael Kors, Akeroyd, Burberry, Gerry Murphy, ” Murphy, “, Neil Saunders, Jonathan Akeroyd’s, ” Saunders, ” Organizations: New, New York CNN, Burberry, London Stock Exchange, GlobalData, CNN Locations: New York
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