Burberry Skeptics Still Dominate as Gobbetti Seeks Turnaround
- Brand still ‘too fragile’ as revival seen taking longer
- Failure to boost stock could turn company into takeover target
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Burberry Group Plc Chief Executive Officer Marco Gobbetti and star designer Riccardo Tisci may be the saviors who finally deliver on the U.K. trench-coat maker’s long-promised turnaround. Analysts aren’t buying it yet.
Burberry is running neck and neck with Hermes International for the dubious distinction of being the lowest ranked by analysts among Europe’s 10 biggest luxury and apparel stocks, according to data compiled by Bloomberg. The stock has 16 hold recommendations, four sells and only three buys, the data shows.