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Burberry Appoints McLaren's Kate Ferry as CFO

A model wears a creation for the Burberry Autumn/Winter 2023 fashion collection presented in London, Monday, Feb. 20, 2023. (AP)
A model wears a creation for the Burberry Autumn/Winter 2023 fashion collection presented in London, Monday, Feb. 20, 2023. (AP)
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Burberry Appoints McLaren's Kate Ferry as CFO

A model wears a creation for the Burberry Autumn/Winter 2023 fashion collection presented in London, Monday, Feb. 20, 2023. (AP)
A model wears a creation for the Burberry Autumn/Winter 2023 fashion collection presented in London, Monday, Feb. 20, 2023. (AP)

British luxury brand Burberry said on Wednesday it had appointed Kate Ferry as its next chief financial officer, succeeding Julie Brown, who is joining GSK.

Ferry, who is currently chief financial officer at Formula One and luxury car firm McLaren Group, will join Burberry by early September at the latest, the company said.

Senior vice president Ian Brimicombe will be interim CFO from April 2, after Brown's departure, until Ferry starts, Burberry said.

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Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
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Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid

Ralph Lauren raised its annual sales forecast after topping quarterly revenue estimates on Thursday, on steady demand for its cable-knit sweaters and Oxford shirts in North America, Europe and China, sending shares of the company 6% up in premarket trading.
Wealthy customers continue to splurge on high-end leather handbags and Polo sweat-shirts, boosting demand across Ralph's direct-to-customer channels and helping it counter a muted wholesale business and soft e-commerce sales in North America.
The results are in contrast to a pullback in the broader luxury sector, primarily in the key China market, which has hurt larger European fashion houses such as Hugo Boss, Kering and luxury bellwether LVMH.
The Club Monaco owner now expects fiscal year 2025 revenue to increase about 3% to 4% compared with a prior forecast of a 2% to 3% rise.
The luxury retailer's net revenue rose 6% to $1.73 billion in the second quarter ended Sept. 28 from a year earlier. Analysts on average had expected revenue of $1.68 billion, according to data compiled by LSEG.