Burberry returns to FTSE100 after a year’s absence during overhaul

British luxury fashion house Burberry According to index provider FTSE Russell, one year after being demoted from the blue chip benchmark, he plans to rejoin the UK’s FTSE 100 later this month.

The upgrade, which is part of the quarterly remodeling at the London Stock Exchange Group (LSEG), comes as the Heritage brand is regaining traction under a drastic overhaul by CEO Joshua Schulman.

Burberry stocks fell approximately 0.8% by 11:33am London time (6:33am ET).

The gorgeous group fell from the FTSE 100 in September 2024, finishing a 15-year run with the UK’s large cap index.

It goes back to the top 100 index together Metlen Energy & MetalsIt will come into effect from the start of trading on September 22 as part of the changes scheduled to take place at the end of the business on September 19th.

Home Builder Taylor Whimpy Student Accommodation Business Unity GroupMeanwhile, exit the FTSE 100 index and move to FTSE 250.

Burberry stock prices have fallen sharply in recent years, falling nearly 80% from April 2023 to September 2024.

However, the turnaround plan under Shulman, which took the reins in July 2024, shows early signs of fruit laying.

The 169-year-old retailer known for his trench coat and eponymous check printing reported a 1% year-over-year decline in quarter sales in the first quarter, led by increased sales in the US and Europe.

Shulman embraced Burberry’s timeless staple food, and at the same time tried to implement a series of cost-cutting measures.