New Burberry CEO launches ‘urgent’ turnaround plan as it plunges into loss

Burberry’s new CEO Joshua Schulman has unveiled a strategic plan for the ailing luxury retailer designed to “reignite brand desire, improve our performance and drive long-term value creation”.
The British retailer’s revenue plummeted 20% in the six months ending 28 September, with sales declining in both its retail and wholesale arms.
It made an adjusted operating loss of £41m, a sharp decline from the £223m profit reported in the same period last year.
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