Burberry boss Joshua Schulman battles takeover rumours
Burberry investors are hoping for further signs of revival this week as its new boss battles to quash takeover speculation.
Shares in the luxury brand rose 3 per cent last week – taking gains since a 14-year low in September to nearly 75 per cent – as Cartier owner Richemont posted bumper trading figures.
Burberry will report its numbers on Friday. Chief executive Joshua Schulman is expected to state that the firm has a strong future as an independent business.
In November he said the ‘It’s always Burberry weather’ campaign – featuring Cara Delevingne – helped improve brand perceptions.
Strong future: The ‘It’s always Burberry weather’ campaign – featuring Cara Delevingne – helped improve brand perceptions
Speculation has been rife that Burberry’s weak share price, down more than 60 per cent since April 2023, has left it vulnerable to predators.
Richard Hunter, head of markets at Interactive Investor, said: ‘On a valuation basis… Burberry remains vulnerable.’
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