0629 GMT - Burberry's brand turnaround plan seems to be on track, Citi analysts Thomas Chauvet and Mahesh Mohankumar write in a research note. The U.K. luxury-fashion firm posted retail revenue of 433 million pounds for its fiscal first quarter. Comparable store sales dropped 1% on year, beating consensus expectations of a 3% decline. This was the third consecutive quarter of improvement in like-for-like sales since CEO Joshua Schulman launched his growth plan last November, Citi says. This implies the company could return to growth in the second quarter for the first time in two years, the analysts say. "Burberry's strategic plan is robust," they say, Citi reiterates its buy rating on the stock. Shares closed at 12.48 pounds on Thursday. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
July 18, 2025 02:29 ET (06:29 GMT)
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