Latest news with #PiQ
North Wales Chronicle
14-05-2025
- Business
- North Wales Chronicle
Burberry to cut 1700 jobs despite having 'best days ahead'
The company said it was hiking its cost-cutting target to £100 million of savings per year by the 2027 financial year. The firm said these savings will partly come from a reduction in 'people-related costs, " which could affect around 1,700 jobs globally over the two-year programme. 👗📈 Burberry Exceeds Expectations Despite Yearly Loss Burberry reports a better-than-expected fourth-quarter sales drop of 6% and an adjusted operating profit of £26 million for FY 2025. The company is navigating a turnaround under CEO Joshua Schulman, despite a significant dip… — PiQ (@PiQSuite) May 14, 2025 The British brand revealed it had tipped into a loss of £3 million in the year to March 29, swinging from a profit of £418 million the previous year. Retail comparable store sales fell 12% year-on-year, with a 16% slump in sales across Asia dragging on the total. 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.' Recommended reading: What is Burberry? Founded in 1856 by Thomas Burberry, the brand has evolved from a practical outfitter to a symbol of British luxury. Despite this, it is well ingrained in the football fan culture and the controversial hooliganism of the 1980s and 1990s. This led to the Burberry brand being linked with violence and anti-social behaviour, impacting the company's image.
The Herald Scotland
14-05-2025
- Business
- The Herald Scotland
Burberry to cut 1700 jobs despite having 'best days ahead'
The firm said these savings will partly come from a reduction in 'people-related costs, " which could affect around 1,700 jobs globally over the two-year programme. 👗📈 Burberry Exceeds Expectations Despite Yearly Loss Burberry reports a better-than-expected fourth-quarter sales drop of 6% and an adjusted operating profit of £26 million for FY 2025. The company is navigating a turnaround under CEO Joshua Schulman, despite a significant dip… — PiQ (@PiQSuite) May 14, 2025 The British brand revealed it had tipped into a loss of £3 million in the year to March 29, swinging from a profit of £418 million the previous year. Retail comparable store sales fell 12% year-on-year, with a 16% slump in sales across Asia dragging on the total. 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.' Recommended reading: What is Burberry? Founded in 1856 by Thomas Burberry, the brand has evolved from a practical outfitter to a symbol of British luxury. Despite this, it is well ingrained in the football fan culture and the controversial hooliganism of the 1980s and 1990s. This led to the Burberry brand being linked with violence and anti-social behaviour, impacting the company's image.
Yahoo
14-05-2025
- Business
- Yahoo
Major UK fashion brand to cut 1700 jobs despite having 'best days ahead'
Burberry has announced plans to cut a potential 1,700 jobs worldwide to slash staff costs and return the luxury fashion brand to a profit. The company said it was hiking its cost-cutting target to £100 million of savings per year by the 2027 financial year. The firm said these savings will partly come from a reduction in 'people-related costs, " which could affect around 1,700 jobs globally over the two-year programme. 👗📈 Burberry Exceeds Expectations Despite Yearly Loss Burberry reports a better-than-expected fourth-quarter sales drop of 6% and an adjusted operating profit of £26 million for FY 2025. The company is navigating a turnaround under CEO Joshua Schulman, despite a significant dip… — PiQ (@PiQSuite) May 14, 2025 The British brand revealed it had tipped into a loss of £3 million in the year to March 29, swinging from a profit of £418 million the previous year. Retail comparable store sales fell 12% year-on-year, with a 16% slump in sales across Asia dragging on the total. 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.' Recommended reading: All UK residents could soon vote for London Mayor after petition hits milestone How rich is Sir Keir Starmer and how did he make his fortune? DVLA could issue drivers with £5,060 fines over simple failure to report Founded in 1856 by Thomas Burberry, the brand has evolved from a practical outfitter to a symbol of British luxury. Despite this, it is well ingrained in the football fan culture and the controversial hooliganism of the 1980s and 1990s. This led to the Burberry brand being linked with violence and anti-social behaviour, impacting the company's image.
Int'l Business Times
22-04-2025
- Automotive
- Int'l Business Times
Tesla Settles Case Alleging Vehicle Defect in Fatal Ohio Collision
The Tesla logo is displayed on the hood of a Tesla car on May 20, 2019 in Corte Madera, California. Tesla has settled a wrongful death lawsuit connected to a 2021 crash in Ohio that killed 72-year-old Clyde Leach. The case, filed by Leach's estate, claimed the Tesla Model Y he was driving suddenly sped up before crashing into a gas station pillar and catching fire. The crash happened near Dayton, Ohio, and caused fatal injuries including blunt force trauma and burns. The terms of the settlement were not made public. Tesla and the legal team representing Leach's estate disclosed the agreement on Monday in a court filing in San Francisco. Both sides declined to comment further, Reuters said. The lawsuit accused Tesla of knowingly selling vehicles with a dangerous defect. According to the complaint, the Model Y had a history of sudden, unexplained acceleration. "Tesla was aware that its vehicles — including the Model Y — have reportedly on hundreds of occasions accelerated suddenly and without explanation," the lawsuit stated. 🇺🇸⚖️🚗 Tesla Settles Wrongful Death Suit Over 2021 Model Y Crash🔹 Summary:Tesla has agreed to settle a wrongful death lawsuit over a 2021 crash in Ohio involving a Model Y that allegedly accelerated suddenly and burst into flames, killing 72-year-old Clyde Leach. While the… — PiQ (@PiQSuite) April 21, 2025 Tesla Denies Fault in Fatal Crash, Still Settles Lawsuit Tesla denied the allegations. The company argued that Leach's vehicle was not defective and that it was built using the latest technology. Tesla also placed the blame for the crash on the driver. A jury trial was originally scheduled for April 2026. The settlement means the trial will no longer take place. This isn't the first time Tesla has settled a case tied to a deadly crash. Last year, the company reached a deal in another wrongful death lawsuit. According to USA Today , that case involved an Apple engineer who died in 2018 after his Tesla Model X, which was using Autopilot, veered off a California highway. Tesla is also facing more lawsuits over safety concerns. In February 2025, the company won a partial legal victory in Florida when a court limited the amount of money Tesla could be ordered to pay in a case about its Autopilot system. Tesla operates under growing scrutiny for how its vehicles respond during accidents. While the company continues to defend its technology and deny wrongdoing, it has quietly settled several high-profile legal battles involving deaths or injuries. As for the Leach family, the settlement brings some closure nearly four years after the tragic crash. Originally published on © {{Year}} All rights reserved. Do not reproduce without permission.
