Burberry’s new strategy, outlined to City analysts on Wednesday by chief executive Christopher Bailey, has failed to convince investors that the group was back on track after a difficult 12 months.The company’s share price fell 3 per cent even after it outlined a plan to revive growth and cut costs by £100m.
Publishing the outcome of a business review alongside its full-year results, Burberry promised “to reduce complexity and simplify processes”, as it again warned that profits in 2017 were likely to be towards the bottom of analysts’ expectations.