Burberry returns to FTSE 100 just hours before LFW show

Burberry has officially rejoined the FTSE 100 today, marking a major step in its ongoing turnaround under CEO Joshua Schulman, who joined in July 2024.

The British luxury house dropped out in late 2024 after 15 years, amid slowing luxury demand and strategic missteps. But growing investor confidence and signs of early progress in Schulman’s plan have helped the company regain its place in London’s top index.

Last November, Burberry launched a £40 million cost-cutting programme after sinking to a loss, followed in May 2025 by proposals to cut about 1,700 jobs worldwide over the next two years as part of a broader shake-up.

In July, the company reported retail revenues down 6% year-on-year to £433 million for the 13 weeks to 28 June, reflecting currency headwinds and weaker luxury spending, particularly in China. However, the figures showed a slowdown in its sales decline, with improvements across core regions and strong demand for outerwear and scarves.

Burberry said at the time it was "encouraged" by the initial impact of its transformation efforts, though it stressed trading conditions remained "challenging" and the turnaround was still in its early stages.

Joshua Schulman added: "The improvement in our first quarter comparable sales, strength in our core categories, and uptick in brand desirability gives us conviction in the path ahead.

"Although the external environment remains challenging, we are encouraged by the initial progress we are starting to see."

Shares have surged around 86% over the past year, reflecting renewed investor optimism, even as analysts remain cautious about the wider luxury slowdown.

Burberry’s FTSE 100 comeback coincides with the close of London Fashion Week, where the brand is unveiling its Autumn/Winter 2025 collection and reinforcing its push to win back customers with its iconic outerwear.