pakistan
Burberry turnaround tempered by Iran war impact
Key takeaways
- Overall group sales grew 5%, in line with forecasts.
- Burberry’s shares were down 6.5% by 1230 GMT, bringing the stock’s losses so far this year to 14%.
- “Investors were spooked by a weaker performance in the Middle East and Europe,” said Dan Coatsworth, head of markets at AJ Bell, though he added the wider turnaround plan looked to be paying off.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize UK fashion house Burberry met quarterly sales expectations on Thursday, but its shares slid as weaker revenue in Europe and the Middle East due to the Iran war tempered investor optimism about the pace of its turnaround.
The luxury brand posted a 10% rise in its fourth-quarter sales in the Americas and China after a marketing blitz aimed at attracting more Gen Z consumers while sales in the combined Europe, Middle East, India and Africa (EMEIA) region fell 2%.
Overall group sales grew 5%, in line with forecasts.
Article preview — originally published by ARY News. Full story at the source.
Read full story on ARY News →
More top stories
Aggregated and edited by the Scoop newsroom. We surface news from ARY News alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop