A Burberry store at Fashion Valley, an upscale shopping mall, on Dec. 13, 2024, in San Diego, California.
Kevin Carter | Getty Images News | Getty Images
British luxury fashion house Burberry[1] is set to re-join the U.K.’s FTSE 100 later this month, one year after being relegated from the blue-chip benchmark, index provider FTSE Russell said Wednesday.
The upgrade, part of a quarterly reshuffling at the London Stock Exchange Group (LSEG), takes place as the heritage brand has been regaining traction under a sweeping overhaul by CEO Joshua Schulman.
Burberry shares were down around 1.1% by 8:40 a.m. London time (3:40 a.m. ET).
The luxury group fell out of the FTSE 100[2] in September 2024, bringing its 15-year run in the U.K. large-cap index to a close.
It will return to the top 100 index alongside Metlen Energy & Metals[3], as part of changes set to be implemented at the close of business on Sept. 19 and take effect from the start of trading on Sept. 22.
Homebuilder Taylor Wimpey[4] and student accommodation business Unite Group[5], will meanwhile exit the FTSE 100 index and move to FTSE 250.
This breaking news story is being updated.
References
- ^ Burberry (www.cnbc.com)
- ^ fell out of the FTSE 100 (www.cnbc.com)
- ^ Metlen Energy & Metals (www.cnbc.com)
- ^ Taylor Wimpey (www.cnbc.com)
- ^ Unite Group (www.cnbc.com)