Burberry turnaround gains pace as investors welcome early progress

A year after Josh Schulman became Burberry’s (BRBY.L) CEO with a mandate to turn the British luxury brand around, investors say they’re pleased with early signs of recovery even though sales are still falling.

Burberry, known for its trademark trench coats and check pattern scarves, is in the early stages of a reboot as Schulman tries to reverse the group’s years of underperformance and return sales and profit to growth.