British luxury clothes, perfumes and shoes producer Burberry (BRBY.UK) loses 1.5% today as FTSE Russel informed that the company, will probably drop out from the main, British index, since September 2024 rebalancing. Burberry is down 50% on a year-to-date basis. The company expects that full year profits will drop 40% YoY. Sales of luxury products in Asia and China (historically 'growth sector') dropped 21% and 23% respectively. Burberry changed CEO last month, to Joshua Schulman, former Jimmy Choo CEO (since 2007 to 2012). On the other hand, dropping out from the index maybe not a signal of further declines, as short-sellers may start closing their bets. Overall, Burberry business is definitely slowing, and a scale of 2023-2024 decline is similar to 2008 GFC.
BRBY.UK (W1)
Shares of Burberry tested local peaks from 2004.
Source: xStation5
راينميتال: هل تم المبالغة في الانخفاض بالفعل؟
ملخص السوق: انخفاضات في جميع أنحاء السوق الأوروبية
انخفض مؤشر ناسداك بنسبة 1.3% قبل افتتاح السوق الأمريكية 📉 وانخفاض أشباه الموصلات بنسبة 13%
الأسهم الصينية في حالة ذعر 🚩 انخفض سهم علي بابا بنسبة 50% عن أعلى مستوى له على الإطلاق
