Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 250 movers: Burberry back in fashion; Oil stocks on the slide
(Sharecast News) - FTSE 250 (MCX) 20,567.54 0.23% The rate of sales decline at Burberry eased significantly in the luxury fashion brand's third quarter as recent actions to turn the business around started to bear fruit.
Retail revenues were down just 7% year-on-year in the three months to 28 December at £659m, following a 22% sales slump in the first half. Comparable store sales fell by just 4% in the third quarter, compared with a 20% drop in the first half.
Comparable store sales in Asia Pacific and the EMEIA region fell by 9% and 2%, a stark contrast to the declines of 25% and 13% in the first half, respectively. Meanwhile, comparable store sales growth turned positive at 2% in the Americas regions, following a 21% decrease in the first half.
Burberry said it was "encouraged by the response from customers and partners over the festive period", which it attributed to the 'Burberry Forward' brand reset initiated in November, which included refocusing products around recognisable brand signifiers, core categories and better pricing in a luxury context.
"Since launching Burberry Forward in November, we have moved at pace to advance our strategy to reignite brand desire, improve our performance and drive long-term value creation," said chief executive Joshua Schulman.
Looking ahead, following the improved momentum seen in the third quarter, Burberry said it is now more likely that second-half results will "broadly offset the first-half adjusted operating loss".
At the time of its interim results in November, the company had said it was too early to tell whether the second half would fully offset the first half on a bottom-line basis.
Oil and gas stocks were lower after US President Donald Trump's called on Saudi Arabia and OPEC to reduce prices. Harbour Energy, Energean and Diversified Energy Company tumbled on the news.
Market Movers
FTSE 250 - Risers
Burberry Group (BRBY) 1,173.50p 9.62% Babcock International Group (BAB) 524.00p 4.59% Kainos Group (KNOS) 799.00p 4.31% Bloomsbury Publishing (BMY) 682.00p 4.28% Trainline (TRN) 373.40p 3.38% Pets at Home Group (PETS) 209.60p 2.64% Bakkavor Group (BAKK) 137.00p 2.62% Dr. Martens (DOCS) 72.60p 2.40% Syncona Limited NPV (SYNC) 97.90p 2.30% Bytes Technology Group (BYIT) 439.80p 2.18%
FTSE 250 - Fallers
Harbour Energy (HBR) 255.00p -7.41% Diversified Energy Company (DEC) 1,271.00p -3.57% Energean (ENOG) 982.50p -3.20% Pennon Group (PNN) 501.50p -2.90% Ocado Group (OCDO) 305.20p -2.52% Investec (INVP) 529.00p -2.13% AJ Bell (AJB) 463.50p -2.11% Hammerson (HMSO) 278.00p -1.77% Oxford Nanopore Technologies (ONT) 139.70p -1.76% Morgan Sindall Group (MGNS) 3,665.00p -1.74%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document or Product Summary document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
