The profit warning came as a result of a slowdown in trading. Burberry stated that, if this continues, the company expects to “report a H1 FY25 operating loss and FY25 operating profit to be below current consensus.”
Burberry also revealed chief executive Jonathan Akeroyd would step down with immediate effect to be replaced by Joshua Shulman, who has previously held chief executive positions at luxury brands Coach and Jimmy Choo, which make bags and shoes, respectively.
Which Funds Own Burberry Shares?
As a large luxury brand, Burberry shares can be found in lots of funds available for sale in the UK. We have found the 10 biggest investors in the UK.
To be included in the list, the funds must have reported their portfolio holdings in 2024 and be domiciled in the UK. We have then sorted them by portfolio weighting – the percentage figure for how much of the fund is allocated to the stock.
By a significant margin, the largest shareholder in Burberry is Lindsell Train UK Equity, followed by Finsbury Growth and Income (FGT) – both managed by Nick Train. Both portfolios hold over 5% in Burberry, and Lindsell Train UK Equity’s share accounts for almost 5% of Burberry’s entire market cap. However, since the fund last reported its positions, the fund had sold 135,000 shares in the company (the current total is just over 17 million shares, with a value of £184 million).
Commenting on the June performance of FGT, Train said all the consumer brands in the portfolio have underperformed, and the greater the luxury exposure, “the worse the performance of the shares”. However, the team maintains its high conviction that luxury and premium brands will provide growth and durability for decades.
He said: “We agree with the new Burberry CEO Joshua Schulman’s comments in July that Burberry is an ‘extraordinary luxury brand, quintessentially British, equal parts heritage and innovation’. But it is clear he and his fellow executives need to rethink how to fulfil the brand’s potential. We continue to engage with executives and the board at what is an important juncture for the business.”
The third biggest allocation to Burberry belongs to VT Sorbus Vector, at 3.16%. In total, five funds have Burberry allocations above 2%, and all the top 10 have at least 1.5%. Globally, though, 2000 funds own some portion of the company, and all would have felt yesterday’s share price drop.
