SFRGY - Burberry shares still down even after high revenue expectations

Asanka Ratnayake/Getty Images News Burberry Inc ([[BURBY]] -5.8%) shares fell even as the company increases its expectations for wholesale revenue growth to 60%, following strong demand from new, young consumers. The company maintains forecasts for “high single digit top line growth and meaningful margin improvement” in the medium-term. Sales for the company were up 1% compared to pre-pandemic levels two years ago and up 90% compared to last year. Investors are still concerned with strategy changes because CEO Marco Gobbetti plans to resign at the end of the year and begin work at Salvatore Ferragamo ([[SFRGY]] -5.3%). There are concerns that he could bring creative director Riccardo Tisci with him. Under Gobetti, Burberry elevated its brand exclusivity in the luxury fashion section, decreasing markdowns and sales and customers responded well. Read more about Gobetti's resignation here.

For further details see:

Burberry shares still down even after high revenue expectations