Fashion
Burberry Gains on Optimism Scrapping Discounts Will Pay Off
- Analysts applaud efforts to elevate brand and boost margins
- Trench coat maker’s goal is to sell more items at full price
Burberry Group Plc’s decision to eliminate discounts is showing progress as the brand aims to elevate the image of its products in the eyes of luxury consumers.
Burberry shares rose as much as 5.9%, the most in two months in London trading. The brand has been phasing out markdowns, leading to an improvement in full-price sales during its fiscal third quarter. The stock is still down 20% over the past 12 months.