Should my pension fund get all chavtastic and buy Burberry shares again? YES!
By Chris Bailey | Friday 17 November 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Undoubtedly you have read over the last twenty-four hours that, “Burberry (BRBY) shares plunged 9% on Thursday after the British luxury fashion retailer warned that full-year operating profit will come in at the low end of forecasts amid a global slowdown in luxury spending”. And more deeply, Burberry reported that comparable store sales growth slowed to just 1%, down from 18% in the previous quarter, “as momentum in China fizzled out”. Is it time for me to get all chavtastic again and buy back into luxury goods company?
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.