Finsbury Growth & Income trust manager Nick Train argued Burberry’s recently appointed CEO Joshua Schulman and his fellow executives need to consider how to unlock the brand’s potential in the face of its declining share price.
His comments came after the luxury fashion group replaced its former CEO Jonathan Akeroyd on Monday (15 July) and issued a fresh profit warning. The news led to a 20% slump in Burberry's share price, which has continued to fall as markets opened today. According to data from MarketWatch, the firm's shares are down almost 4% so far. Train has been a long-term investor in Burberry via Finsbury Growth & Income, and has repeatedly backed the company despite its declining share price damaging the trust's own performance. Nick Train: 'We should not have been surprised' at Hargreaves Lans...
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