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Burberry misses out on bounce from London Fashion Week
Evening Standard
|September 20, 2023
GLOWING reviews from London Fashion Week failed to leave their mark on Burberry shares today as the luxury goods group missed out on a FTSE 100 bounce.
New creative director Daniel Lee's first designs for store and online earned praise at the showcase event, but away from the catwalk investors appear more guarded.
Their caution reflects uncertainty over China, a point highlighted today by Deutsche Bank after it downgraded its price targets on several luxury goods stocks including Burberry, Richemont and LVMH. The bank said: "The Chinese consumer remains the key driver of the sector and we expect a slowdown.
This story is from the September 20, 2023 edition of Evening Standard.
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