Burberry has unveiled a £40m cost-cutting programme as its new chief executive pledged to “stabilise the business” with a turnaround plan aimed at reviving the fortunes of the ailing British luxury fashion brand.
Joshua Schulman, the former Coach boss who replaced his ousted predecessor, Jonathan Akeroyd, in July, said the company was “acting with urgency” after straying too far from its roots of “timeless core collections” and outerwear, including trench coats and scarves with its distinctive Burberry check.
