Latest news with #HENRYNICHOLLS
Yahoo
16-05-2025
- Sport
- Yahoo
Chelsea and Man Utd name starting XIs for PL clash
Chelsea and Manchester United have named their starting XIs for their Premier League how both teams are lining up at Stamford Bridge. Your Chelsea side tonight! 📋#CFC | #CHEMUN — Chelsea FC (@ChelseaFC) May 16, 2025 Ruben Amorim's side are looking to move up two place in the table to 14th after a wretched season in the top flight. 📸 HENRY NICHOLLS - AFP or licensors
Toronto Sun
15-05-2025
- Business
- Toronto Sun
Burberry sheds jobs, handbag bling as CEO returns to roots
Published May 15, 2025 • 3 minute read A photograph taken on September 2, 2024 shows the entrance plaque of the British fashion label Burberry outside the store, in central London. Photo by HENRY NICHOLLS / AFP via Getty Images (Bloomberg) — Burberry's new boss is calling time on the British fashion label's decade-long attempt to join the upper ranks of global luxury. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Joshua Schulman, the straight-talking chief executive officer who took over in July, said Wednesday Burberry Group Plc will slash up to 1,700 roles — about a fifth of its workforce — amid a historic slump in sales. But he also took aim at decisions made by his predecessors, saying the company moved too far from its trench-coat roots with its foray into niche designs and expensive handbags. 'The juice wasn't worth the squeeze on that,' Schulman told analysts. 'We had a runway brand expression that was unfamiliar and did not resonate.' Burberry's fall from grace has been brutal, with sales for the last 12 months slumping to the lowest since 2014, amid weak global demand for high-end goods and more recent concerns about President Donald Trump's trade tariffs. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Schulman, though, is looking back further for what he wants to fix. Over the past decade Burberry has cycled through three CEOs, three creative designers, a mocked monogram and a mish-mash of efforts to 'elevate' the brand. For a while it appeared to work — at least in terms of Burberry's stock price, which peaked in 2023 as fashion labels enjoyed a post-pandemic boom of pent up spending. Yet Burberry has very little to show for a decade of effort, with lacklustre revenue, falling profit and its ouster from the UK's benchmark FTSE 100 index last year. Even after a surge on Wednesday, the shares are down more than 60% from their post-pandemic high. Cutting costs is at the heart of Schulman's plan to fix Burberry. The CEO, who previously ran Coach and Michael Kors, said the job losses will be primarily office-based roles including at its headquarters near London's iconic Big Ben landmark, although there will be some cuts elsewhere. This advertisement has not loaded yet, but your article continues below. Even Castleford, Burberry's spiritual home in northern England where its signature trench coats are made, has not been spared: night shifts will be scrapped to reduce over-production and to help eke out a further £60 million ($80 million) of savings over the next two years, on top of the £40 million already planned. Schulman also said Burberry would refocus on outerwear, be it trench coats, scarves or even bikinis. The company is also betting that its traditional check trims on polo shirts and dresses will drive sales throughout the year. RECOMMENDED VIDEO Investors, whose dividend payments remain suspended, sent Burberry's shares up 17% at the close on Wednesday. 'The old saying is never let a good crisis go to waste. Schulman is showing he understands that well,' said Cole Smead, a portfolio manager at Smead Capital Management. 'We think we are being given a unique brand on the cheap.' This advertisement has not loaded yet, but your article continues below. Still, while Burberry's latest results were better than analysts expected, Schulman and Chief Financial Officer Kate Ferry warned of uncertainty around tariffs in the US, which accounts for 19% of the company's sales and where they said trading was particularly choppy starting from February. The problem is compounded by the slowdown in Asia Pacific, which generates almost half of Burberry's sales. 'It has been unusual for both America and China to be struggling at a similar time,' Schulman said. 'The history of luxury is that China and America have acted as a hedge to each other.' The CEO described his radical restructuring plan as difficult but necessary given Burberry's challenges. Ending the night shift at the Castleford will put 170 jobs at risk, about a third of the facility's workforce, according to Darran Travis, the GMB union representative for the workers at the plant. This advertisement has not loaded yet, but your article continues below. 'We accept we haven't been in good times, with too much production and falling sales, so we'll work with Burberry,' Travis said by phone Thursday. 'We're in a deprived area, a former coal-mining area, it's an area in serious decline.' The other part of Schulman's strategy, to pull company back closer to its heritage, ends a gamble on high fashion that ultimately flopped. 'Either the circumstance have crafted his decisions or he has the wisdom to make these changes that seem pragmatic,' Smead said of Schulman's moves. 'Time will tell, but our investors are betting on the latter.' — With assistance from Kit Rees. Toronto Maple Leafs Toronto Maple Leafs World Columnists Relationships
Grazia USA
15-05-2025
- Entertainment
- Grazia USA
How To Watch The Gucci Cruise 2026 Show Live From Florence
Image: Gucci In the last few years, Gucci has brought Italian fashion to all corners of the world, from Seoul to London, with its travelling cruise shows. But tonight, the Italian luxury house will reclaim Florence as the heart of high fashion as it presents Cruise 2026 within the hallowed walls of Palazzo Settimanni. Nestled in the artisanal enclave of the Oltrarno, this 17th-century palazzo has long been entwined with the House's DNA—acquired in 1953 and, since 2021, home to its meticulously restored Archive. More than a venue, the Archive is a crucible of memory and imagination, where Gucci's storied history is constantly reanimated through a contemporary lens. 'It's a living space,' says CEO Stefano Cantino, 'where our codes are preserved and reinterpreted with coherence and ambition.' Models present creations by Italian fashion house Gucci during their 2024 Cruise Collection Fashion Show at the Tate Modern in London on May 13, 2024. (Photo by HENRY NICHOLLS / AFP) (Photo by HENRY NICHOLLS/AFP via Getty Images) The show marks a powerful homecoming to the city where Guccio Gucci founded the brand in 1921—yet this location wasn't selected for nostalgia's sake. From Gucci Osteria to ArtLab, Florence remains the nerve centre of a maison in perpetual evolution, known for its revered artisans. As twilight falls over the city's terracotta rooftops, Palazzo Settimanni becomes the stage for a collection steeped in heritage. In a gesture of cultural stewardship, Gucci will also support Florence's Estate Fiorentina and the regeneration of Parco delle Cascine—proof that this is more than fashion; it is a love letter to the city that shaped it. And now, as the world waits to see how Demna's Gucci will look, the Cruise 2026 collection marks the incredible journey of Gucci. Watch the show live as it happens below on May 15 at 7 pm in Florence, Italy (May 16 at 3 am AEST)
Yahoo
14-05-2025
- Sport
- Yahoo
Tottenham's Kulusevski to miss Europa League final after surgery
Tottenham midfielder Dejan Kulusevski is out of the Europa League final against Manchester United (HENRY NICHOLLS) Dejan Kulusevski will miss Tottenham's Europa League final against Manchester United after undergoing surgery on his knee, dealing a major blow to the club's hopes of ending their trophy drought. Kulusevski suffered the injury in Sunday's 2-0 loss at home to Crystal Palace after being caught by Marc Guehi and was substituted in the 19th minute. Advertisement Spurs boss Ange Postecoglou provided a mixed assessment post-match, but further scans have shown the Swedish playmaker required surgery. "We can confirm that Dejan Kulusevski suffered an injury to his right patella in our Premier League fixture against Crystal Palace last weekend," a Tottenham statement said. "Following further specialist consultation, the midfielder has undergone surgery today (Wednesday) and will commence his rehabilitation with our medical staff immediately." Midfielder James Maddison was last week ruled out for the rest of the season. Spurs, 17th in the Premier League, take on United, one place above them, in Bilbao on May 21. Tottenham have not won a trophy since the 2008 League Cup, and have not tasted European glory since winning the UEFA Cup in 1984. jw/nr
Scotsman
14-05-2025
- Business
- Scotsman
Burberry: iconic fashion brand announces 1,700 job cuts
The luxury giant is stepping up its turnaround plan as demand dips 📉g Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Iconic fashion brand Burberry plans to cut up to 1,700 jobs globally Job cuts will mainly affect office roles in London and Leeds, plus manufacturing jobs in Yorkshire Burberry aims to save £100 million annually by 2027, doubling its previous savings target The company reported a £3 million loss for the past year, down from a £418 million profit the year before Falling demand in Asia, especially China, is dragging on sales An iconic British fashion house is preparing to cut up to 1,700 jobs globally as it ramps up efforts to stem losses and restore its luxury brand to profitability. The job cuts form part of a wider cost-cutting drive at Burberry, with the company announcing plans to double its savings target to £100 million a year by the 2027 financial year. Advertisement Hide Ad Advertisement Hide Ad A significant portion of those savings will come from 'people-related costs,' according to the company, which will be rolled out over a two-year period. The announcement comes after Burberry reported a pre-tax loss of £3 million for the year ending March 29, a big drop from the £418 million profit it made the year before. But when one-off costs are taken out, the company still made an adjusted profit of £26 million — more than double the £11 million some experts had predicted. (Photo: HENRY NICHOLLS/AFP via Getty Images) | AFP via Getty Images Burberry's performance has been weighed down by weakening demand in China, one of its largest and most critical markets. Sales at stores open for at least a year fell by 12% compared to the previous year, mainly due to a 16% drop in sales across Asia. Advertisement Hide Ad Advertisement Hide Ad Chief executive Joshua Schulman told investors: 'While we are operating against a difficult macroeconomic backdrop and are still in the early stages of our turnaround, I am more optimistic than ever that Burberry's best days are ahead and that we will deliver sustainable profitable growth over time.' The company first launched a £40 million cost-cutting programme in November 2024 after slipping into the red. Wednesday's (May 14) announcement adds another £60 million in targeted savings. But there are signs that Burberry's strategy may be beginning to gain traction. Sales improved in the second half of the year compared to the first, and the brand's classic outerwear pieces, including trench coats and scarves, continued to perform strongly, outpacing other product categories. Advertisement Hide Ad Advertisement Hide Ad Which jobs are being cut? The majority of the Burberry job reductions are expected to come from head office roles, particularly in London and Leeds. About 150 positions will also be affected at the Castleford manufacturing site in Yorkshire due to the elimination of the night shift. While Burberry has not announced any store closures, the company has indicated that some savings will come from restructuring store staff rotas. This suggests that, although the primary focus is on office-based roles, some shop floor positions may also be impacted. Advertisement Hide Ad Advertisement Hide Ad Will Burberry shops close? At the time of writing, Burberry has not provided specific details about potential store closures in the UK. But given the scale of the job cuts and the emphasis on cost savings, it's possible that store operations could be affected in the future. Again, it's important to note that, at this time, no definitive information has been made available by Burberry regarding potential store closures. How are Burberry shares performing today? As of May 14, 2025, Burberry Group plc's (LON: BRBY) share price is trading at approximately 900.6 pence, marking an 8.9% increase from the previous close of 826.8 pence. Advertisement Hide Ad Advertisement Hide Ad Despite this recent gain, the stock remains significantly below its 52-week high of 1,254.5 pence and has experienced notable volatility over the past year. For the most current share price and detailed financial information, you can visit Burberry's stock page on the London Stock Exchange.
