×
40 932
Fashion Jobs
H&M
Logistics Wms Manager
Permanent · Burlington
CLINIQUE
Retail Beauty Sales Manager - Clinique - (Midrivers) - st. Peter's, mo
Permanent · Saint Charles
AVEDA
Director, Retail Marketing (Fss), Aveda North America
Permanent · Blaine
TAPESTRY
sr. Manager, Merchandising - Women's Outlet Bags
Permanent · New York
TAPESTRY
Project Manager, Store Construction
Permanent · New York
TAPESTRY
Senior Art Director - Brand Creative
Permanent · New York
TAPESTRY
Buyer, Men's Outlet
Permanent · New York
TAPESTRY
Director, Creative Project Management
Permanent · New York
ROSS STORES
District Manager
Permanent · Birmingham
ROSS STORES
sr. Manager, Cross Dock & Store Delivery Transportation Procurement
Permanent · Fort Mill
ROSS STORES
sr. Manager, IT (Store Systems)
Permanent · Dublin
ROSS STORES
sr. Accountant, Inventory Control
Permanent · Dublin
ROSS STORES
Vice President, Workforce Strategy & Analytics
Permanent · New York
ROSS STORES
sr. Manager, Store Strategy And Method Improvements
Permanent · Dublin
ROSS STORES
IT Senior Manager (Supply Chain Warehouse Core Systems)
Permanent · Fort Mill
ROSS STORES
IT Manager i (New Store Openings, Store Systems)
Permanent · Dublin
ROSS STORES
Real Estate Law Attorney, Director
Permanent · Dublin
ROSS STORES
Merchant Operations Manager (Compliance)
Permanent · New York
ROSS STORES
Loss Prevention Associate
Permanent · Rock Hill
ROSS STORES
Coordinator, Legal Compliance
Permanent · New York
ROSS STORES
IT Manager i (Host Security Delivery)
Permanent · Dublin
ROSS STORES
Loss Prevention Associate
Permanent · Fort Mill

Burberry to close one in 10 of its stores

Published
today May 17, 2019
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Burberry will close 38 stores worldwide as part of a new transformation plan led by CEO Marco Gobbetti to move more upmarket.


Burberry


This means 10% of the British brand’s store portfolio will be impacted by the new strategy, as the company shifts gears to transform its flagship stores into fully-fledged luxury destinations for wealthy shoppers.

It remains unclear which stores will close, but Burberry told The Guardian that five sites have already shut in Brazil and Spain.

Burberry shares fell 5% on Thursday after the company unveiled its latest set of results. Whilst sales for the year to 30 March remained stable at £2.7 billion, operating profit was down 6% to £438 million and the report did little to reassure concerned investors of a Chinese slowdown.

As part of the long-promised turnaround, Gobbetti has brought in Italian fashion designer Riccardo Tisci to help inject energy into the 163-year old brand. His first collections, released in stores at the end of February, have been well received by customers but the extent of his influence will be only fully revealed in the new financial year.

Earlier this month Burberry sold a 10-acre site in Leeds where it was planning to build a £50 million British manufacturing base. The project was spearheaded by former creative director Christopher Bailey, who left the brand in 2017 amid investor concerns over flagging sales in China and the Middle East.

Copyright © 2019 FashionNetwork.com All rights reserved.