UK luxury brand Burberry gets new boss to revive revamp

British luxury group Burberry (BRBY.L) on Monday sacked its CEO and named former Coach boss Joshua Schulman to replace him, as it promises a “more familiar” look and presses on with efforts to revive the brand by moving upmarket.

It also warned on profit and scrapped its dividend, sending its shares to their lowest in more than a decade.

A slowdown in the luxury sector has hit the 168 year-old name harder than rivals as customers were largely unimpressed by a style shift that...