Burberry Set to End 15-Year Stay in FTSE 100 After Stock Slump [Yahoo! Finance]
BURBERRY GROUP PLC S/ADR (BURBY)
NASDAQ:AMEX Investor Relations:
burberryplc.com/en/investors.html
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Source: Yahoo! Finance
(Bloomberg) -- Burberry Group Plc is poised to exit the FTSE 100 Index, ending the luxury-goods maker's 15-year stay in the UK blue-chip gauge. Most Read from Bloomberg Nazi Bunker's Leafy Makeover Turns Ugly Past Into Urban Eyecatcher Sydney Central Train Station Is Now an Architectural Destination Chicago Overcomes DNC Skeptics With Calm, Parties and Sun How the Cortiços of São Paulo Helped Shelter South America's Largest City With Housing Costs High, Democrats Hone YIMBY Message The stock will likely drop down to the midcap FTSE 250 Index at September's quarterly rebalancing, FTSE Russell said in a statement Tuesday, ahead of final changes being announced next week. Hampered by an industry-wide slowdown in demand and a faltering brand revamp, Burberry shares have slumped by a third over the past three months. The British firm has been hit particularly hard by a softer Chinese market, which resulted in a recent profit warning. Burberry's market capitalization of £
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