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Burberry saw revenue shrink 4.3 percent to 688 million pounds in the crucial third quarter, with up to 15 percent of its store network closed at one point in the three months to Dec. 26.
Burberry was founded in 1856 when 21-year-old Thomas Burberry, a former draper's apprentice, opened his own store in Basingstoke, Hampshire, England. [5] By 1870, the business had established itself by focusing on the development of outdoors attire. [ 5 ]
Thomas Burberry (27 August 1835 – 4 April 1926) was an English fashion designer, and the founder of international chain Burberry, one of Britain's largest branded-clothing businesses. He is also known as the inventor of gabardine .
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Shares in the group, which have risen by 1% over the last 12 months significantly underperforming its peers, jumped 6.5% to 1,871 pence on Wednesday after Burberry's bullish outlook.
Ahrendts joined Burberry in January 2006, and took up the position of CEO on July 1, 2006, replacing Rose Marie Bravo. She mitigated the brand's decline in prestige by immediately limiting the number of clothing and accessories carrying the Burberry check pattern to 10%, minimizing the damage ubiquitous counterfeits had caused to sales.
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