The media was a buzz with this development. The Independent said it was “a further sign of its revival under chief executive Angela Ahrendts.”
Analysts were also watching Burberry closely. Analyst company Numis Securities forecast that “Burberry will deliver full-year 2010 pre-tax profits of £178.8m, up from £174.6m in 2009.”
Numis analyst Nick Coulter said, "Burberry remains a compelling medium-term growth story, benefiting from an under-penetrated brand, a coherent strategy to extend the breadth and depth of its offer, and a programme of ongoing self-help measures that have protected its earnings from the worst of the global slowdown."
We couldn’t agree more. Burberry has been one of the more resilient brands in recent times. See the MO Down for 10 June, Another Message Of Hope From Burberry, for one of our Burberry updates.
You can also click here for Reuters’ take on Burberry’s grand entrance into the FTSE 100 Index.