London, March 12, 2026, 18:18 GMT
Burberry closed Thursday’s session in London down 1.1% at 1,056.47 pence, slipping from Wednesday’s finish at 1,068 pence. Shares dipped as low as 1,046.5 pence earlier in the day.
This is significant for Burberry, which has spent the last year working to convince investors that its turnaround is real. CEO Joshua Schulman’s emphasis on British heritage, outerwear, and scarves, along with cost cuts, has helped the company get sales growing again—and the stock is getting another look as a potential luxury comeback.
The next big hurdle is just ahead. Burberry will release its preliminary results on May 14. According to the latest company consensus, updated back on Jan. 9, adjusted operating profit is forecast at 149 million pounds, with comparable retail sales expected to rise 2% for the year ending March 2026. The company defines comparable sales as a like-for-like metric, excluding the impact of any new store openings or closures.
It wasn’t just a few stocks under pressure. The FTSE 100 ended the day down 0.4%, with oil climbing once again toward the $100 mark after strikes hit Middle East oil and transport sites. Danni Hewson at AJ Bell flagged that if the disruption drags on, energy prices, inflation, and rate expectations could all take another hit.
Burberry’s latest trading update showed more strength than anticipated. Back in January, the company posted third-quarter revenue of 665 million pounds, with comparable store sales climbing 3%—a notch above the 2% analysts had penciled in. China did much of the heavy lifting, sales there jumping 6%. Schulman attributed the momentum to Gen Z demand, while finance chief Kate Ferry noted “strong conversion” in stores, even though traffic was on the soft side. Reuters
July saw much the same trend. Burberry posted a 1% decline in first-quarter comparable sales, topping forecasts that had pegged a 3% drop. Schulman pointed to stronger core categories and rising brand appeal, saying those factors gave the company “conviction in the path ahead.” Before the numbers came out, Jefferies analyst James Grzinic told clients that first-quarter sales were likely to prove Burberry’s “newfound (relative) resilience.” Reuters
Even so, Burberry isn’t being viewed on its own here. LVMH’s January numbers rattled luxury names when investors started doubting the speed of a rebound in demand. On top of that, Reuters noted this month that turmoil in the Middle East is putting pressure on a region accounting for about 5% to 6% of global luxury sales — though Burberry appears less at risk than Richemont or Zegna.
The bear case hasn’t gone anywhere. Burberry is staring at a currency drag of around 50 million pounds on fiscal 2026 revenue. Even with shares bouncing since last year’s trough, they’re still trading well under the 52-week high of 1,376.5 pence. Any fresh dip in luxury appetite, or a stumble versus its May guidance, and the stock’s rebound story could unravel fast.
