London, March 12, 2026, 18:18 GMT
Burberry shares ended lower in London on Thursday, with the stock settling at 1,056.47 pence, down about 1.1% from Wednesday’s 1,068 pence close after touching an intraday low of 1,046.5 pence. 1
The move matters because Burberry has spent the past year trying to persuade investors its reset is starting to stick. Since CEO Joshua Schulman pushed the brand back toward British heritage, outerwear and scarves, the group has cut costs and returned to sales growth, putting the stock back in focus as a luxury turnaround story. 2
Now the next hard test is close. Burberry is due to report preliminary results on May 14, and the company’s own consensus, last updated on Jan. 9, points to adjusted operating profit of 149 million pounds and comparable retail sales up 2% for the year to March 2026. Comparable sales are a like-for-like measure that strips out the effect of store openings and closures. 3
The wider market was rough as well. The FTSE 100 closed down 0.4% as oil surged back toward $100 after attacks on Middle East oil and transport facilities, and AJ Bell’s Danni Hewson warned that a longer disruption would feed into energy prices, inflation and interest-rate expectations. 4
Burberry’s most recent trading update had been firmer. In January, the company reported third-quarter revenue of 665 million pounds and comparable store sales up 3%, ahead of the 2% growth analysts had expected, helped by a 6% rise in China. Schulman said the market was “really driven” by Gen Z growth, while finance chief Kate Ferry pointed to “strong conversion” despite weak store traffic. 5
There was a similar pattern in July. Burberry said first-quarter comparable sales fell 1%, beating expectations for a 3% drop, and Schulman said stronger core categories and improving desirability gave the company “conviction in the path ahead.” Ahead of that update, Jefferies analyst James Grzinic wrote that first-quarter sales should confirm Burberry’s “newfound (relative) resilience.” 6
Still, traders are not looking at Burberry in isolation. LVMH’s January results shook luxury stocks after investors questioned how quickly demand can recover, and Reuters reported this month that Middle East disruption threatens a region worth about 5% to 6% of global luxury sales, even if Burberry is seen as less exposed than Richemont and Zegna. 7
But the downside case has not gone away. Burberry has flagged about a 50 million-pound currency headwind to fiscal 2026 revenue, and the shares, even after their rebound from last year’s lows, remain well below the 52-week high of 1,376.5 pence. Another soft patch in luxury sentiment, or a miss against the company’s own May targets, could cut into the recovery case quickly. 8
