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Potential job losses at Burberry as it cuts costs
British luxury brand, Burberry, has said it could cut 1,700 jobs while carrying out plans to make savings.
The clothing brand reported a pre-tax loss of £ 66 million in the last financial year.
In November, the company launched Burberry Forward, its immediate intervention to reset the brand storytelling, enhance visual merchandising in stores and online and align product focus to its core categories. It has resulted in a significant improvement in its comparable retail sales in the second half relative to the first half.
Burberry said it expects the proposed changes to unlock an additional £ 60 million of savings by FY27, which including its previously announced £ 40 million cost-savings programme, brings the combined annualised savings to £ 100 million by FY27. It expects these proposed incremental savings to come
from operating expenses, with increased efficiency of spend in procurement and real estate, and“ a reduction in peoplerelated costs which could impact around 1,700 roles globally over the life of the programme, subject to consultation where applicable.”
Joshua Schulman, CEO of Burberry, said:“ With improvement in brand sentiment, we will be ramping up the frequency and reach of our campaigns as our autumn and winter collections arrive in store. The continued resilience of our outerwear and scarf categories reaffirms my belief that we have the most opportunity where we have the most authenticity. 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.”
DHL eCommerce UK to merge with Evri to create UK’ s premier parcel delivery business
Evri, one of the UK’ s largest dedicated parcel delivery companies, and DHL eCommerce, the e-commerce logistics specialist of DHL Group, have announced a strategic transaction that will see the merger of DHL eCommerce UK with Evri.
The merged Evri business will deliver over 1 billion parcels and a further 1 billion business letters annually and is poised to bring significant benefits to consumers and businesses by offering greater choice and cost competitive solutions. As part of the transaction, DHL Group will acquire a significant minority stake in Evri.
Evri’ s cost-effective and flexible courier offer will be complemented with the addition of DHL eCommerce’ s premium van delivery network. Rebranded Evri Premium, a network of DHL eCommerce, will remain a dedicated and secure, separate network that will offer fast, time-sensitive deliveries with enhanced shipping security protection for high-value and large items for B2B and B2C parcel services.
The new group will include an expanded international capability for inbound and outbound parcels to complement Evri’ s own international network by making use of DHL eCommerce’ s
Pablo Ciano, CEO of DHL eCommerce, and Martijn de Lange, CEO of Evri
extensive expertise in cross-border parcel shipping and outof-home network of nearly 150, 000 global access points. This includes faster transit times across the world with access to DHL’ s own eCommerce network in Europe, the US and selected Asian markets such as India. x
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