Burberry Group plc (BRBY) Stock on 2 December 2025: Analyst Hold Call, Turnaround Hopes and 2026 Forecasts

Date: 2 December 2025 – London

Burberry Group plc’s stock is trading in that awkward middle ground investors love to argue about: the turnaround is clearly under way, but the numbers still carry plenty of scar tissue.

As of today’s session in London, Burberry (ticker: BRBY.L) is slightly lower on the day but up strongly year‑to‑date, with fresh analyst commentary, new technical signals and another regulatory filing all landing around the stock. This piece pulls together the latest price moves, forecasts and fundamental analysis relevant as of 2 December 2025.

Burberry share price on 2 December 2025

On the London Stock Exchange, Burberry Group plc is trading around 1,153p, down roughly 1.1% on the day. The intraday range has run from about 1,130.5p to 1,160p, on volume just over 800,000 shares. Over the last 52 weeks, the stock has traded between 597p and 1,375p, underlining how volatile the last year has been. ^[1]

The Financial Times shows Burberry at 1,151.5p earlier in the session, with a one‑year gain of about 26% and a beta of around 1.67, meaning the shares have been more volatile than the broader market. ^[2]

Data from CompaniesMarketCap and similar sources suggest that after a brutal drawdown in 2023–2024, Burberry shares are up more than 20% in 2025, but still below prior cycle highs. ^[3]

In short: today’s move is a modest pullback after a strong rebound year.

Fresh analyst calls: Hold headline, messy reality underneath

MarketBeat: new “Hold” consensus, mid‑teens upside

A new note today from MarketBeat pulls together seven analysts covering Burberry’s London listing (LON:BRBY): ^[4]

Consensus rating: Hold
Rating split: 5 Buy, 2 Sell
Average 12‑month price target:1,336.43p
Tuesday’s open:1,166p
Implied upside vs today’s level: roughly low‑to‑mid teens %

MarketBeat also highlights:

a market cap of about £4.21bn,
a negative trailing P/E (~‑55.8x) because of recent losses, and
a 52‑week trading range of 597p–1,375p, matching other sources. ^[5]

Headline: the Street as a whole isn’t screaming “bargain”, but it does see meaningful upside if the turnaround sticks.

MarketScreener & TradingView: “Outperform” / “Buy” with ~1,300p targets

On MarketScreener, the broader consensus from 19 analysts skews slightly more positive: ^[6]

Mean consensus: OUTPERFORM
Last close used in their model:£11.66
Average target price:£13.02 (~1,302p)
Implied upside: ~12%

TradingView’s forecast page shows a very similar picture: ^[7]

Average 1‑year price target:1,309.5p
Target range:680p–1,575p
Analyst rating (past 3 months, 22 analysts): overall “Buy”, with most calling it a strong buy.

For investors staring at the 1,150p area today, the main sell‑side cluster of targets is basically a neon sign around 1,300–1,350p.

JPMorgan: fresh downgrade to Underweight

Not everyone is impressed.

On 28 November 2025, JPMorgan downgraded Burberry from Neutral to Underweight, while actually raising its price target from £8.50 to £9.50, still well below current levels. ^[8]

Key points from the bank’s note:

Burberry’s brand has stabilised but hasn’t yet shown convincing growth momentum.
The most recent like‑for‑like retail sales growth of 2% came against a very weak ‑20% comparison period. ^[9]
High‑frequency data suggests waning consumer engagement since September.
JPMorgan’s forecasts sit ~5% below FY27 EBIT consensus and ~15% below FY28. ^[10]

AskTraders, summarising the downgrade, noted that the stock fell about 2.9% on the day as investors digested the more cautious stance. ^[11]

So while the average analyst still leans positive, one large investment bank has very clearly moved to the bear camp.

US ADR coverage: Telsey & Deutsche more upbeat

Across the Atlantic, coverage of Burberry’s U.S. OTC ADRs (tickers BURBY / BBRYF) is a bit more optimistic:

Telsey Advisory Group recently raised FY2026 EPS estimates on the ADR to $0.32 from $0.26, and sees $0.48 for FY2027, versus a current‑year consensus of –$0.12. ^[12]
A separate note reported by Nasdaq shows an average 12‑month price target of $17.50 for BBRYF, with a range from $9.07 to $22.18, implying around 33% upside from a recent $13.18 close. ^[13]

Different currency, same underlying story: the US analyst crowd is betting on improving profitability over the next two years.

Capital structure update: new voting‑rights denominator

The only official corporate news right around today’s session is a routine but important Regulatory News Service (RNS) filing on Total Voting Rights, dated 1 December 2025. ^[14]

Burberry disclosed that as of 30 November 2025:

Issued share capital:363,824,611 ordinary shares of 0.05p each
Treasury shares:2,839,220 (no voting rights)
Total voting rights in issue:360,985,391

This figure is the new denominator investors must use when calculating whether they’ve crossed a regulatory reporting threshold under UK disclosure rules.

It doesn’t change the investment story by itself, but it matters for anyone tracking ownership stakes, short interest, or index weights.

The turnaround story: first positive comp sales in two years

The real narrative driver for Burberry stock today is still the FY26 interim results, released on 13 November 2025, and the early verdict on CEO Joshua Schulman’s “Burberry Forward” strategy.

H1 FY26 at a glance

Across Burberry’s own filings and media coverage, the six months to 27 September 2025 look like this: ^[15]

Revenue:£1.03bn, down 3% year‑on‑year.
Comparable retail sales: flat for the half
- Q1: –1%
- Q2:+2%, the first positive quarter in two years. ^[16]
Adjusted operating profit:£19m (vs a £41m loss a year earlier).
Restructuring charge:£37m, mainly linked to cost‑cutting.
Reported operating result:£18m loss. ^[17]
Net loss after tax:£26m, improved from a £74m loss in the prior year’s first half. ^[18]
Gross margin:67.9%, up ~4 percentage points. ^[19]
Inventory: reduced by about 24%, helping margins and cash discipline. ^[20]

Geographically, recent articles suggest: ^[21]

Greater China returned to modest growth (~+3%),
the Americas showed improvement supported by a stronger holiday season and new store concepts,
Asia‑Pacific and EMEIA still saw declines but at a much slower pace than earlier in the downturn.

WorldFootwear and other trade outlets summarised the Q2 picture bluntly: Burberry’s store sales have finally returned to growth, albeit from a beaten‑up base. ^[22]

From crisis to “patient revival”

The interim results slot into a longer narrative arc:

In FY2024/25, Burberry’s own KPI page shows revenue down 15% at constant FX, comparable store sales down 12%, and adjusted operating profit collapsing to £26m, with adjusted EPS plunging to a loss of 14.8p. ^[23]
In May 2025, full‑year results beat expectations but management announced around 1,700 job cuts (about 20% of the workforce) to take out costs and protect margins. ^[24]
In January 2025, Reuters reported that Q3 comparable sales fell just 4% vs a feared 12%, with US holiday shoppers providing an early glimmer of hope. ^[25]

By November 2025, commentators from Morningstar, Vogue and other outlets were talking about “early sparks”, noting that: ^[26]

The new creative + commercial direction is leaning harder into Burberry’s heritage (trench coats, scarves, “Britishness”) rather than chasing trend‑driven leather goods.
Margin improvement is being powered by better pricing mix, less discounting, and leaner inventories, not just sales volume.
Management is targeting around £80m in cost savings, while still spending heavily on marketing and digital tools. ^[27]

So the half‑year numbers backing up that story—especially Q2’s +2% comp—explain a lot of the share price recovery we’re seeing into December.

How Burberry fits into the wider luxury cycle

Burberry isn’t moving in a vacuum; it’s surfing the same choppy macro wave as LVMH, Kering, Richemont and the rest.

Back in October 2025, LVMH stunned the market by returning to quarterly sales growth, sparking a sector‑wide rally that added nearly $80bn to European luxury valuations in a single day. Burberry shares participated in that move, rising alongside peers by 5–9%, according to Reuters. ^[28]

Key sector takeaways from that episode:

Chinese demand looks better than feared, though still not back to pre‑slump exuberance.
Major houses are relying on creative overhauls and store experiences to entice cautious shoppers.
UBS now expects around 4% organic sales growth in 2026 for the luxury sector, with improvement skewed towards H2 2026. ^[29]

Burberry is effectively a high‑beta satellite of that broader story: when luxury sentiment improves, it tends to move more than the giants—both up and down.

What the forecasts say: revenue and EPS into FY2026–27

Company‑compiled analyst consensus

Burberry’s own investor relations page publishes the sell‑side consensus (last updated 14 October 2025) for the financial year ending March 2026. ^[30]

For FY ending March 2026, the averages are:

Group revenue:£2,412m (range £2,332–£2,509m; 15 estimates)
Revenue growth at constant FX:0% (range –3% to +4%; 14 estimates)
Comparable retail sales:+2% (range –2% to +5%; 15 estimates)
Adjusted operating profit:£149m (range £132–£183m; 15 estimates)
Reported operating profit:£100m (range £82–£132m; 14 estimates)
Adjusted diluted EPS:20.3p (range 15.8p–27.1p; 15 estimates)

For the first half (already reported), the consensus going into the release had expected: ^[31]

Revenue around £1,029m,
revenue growth at constant FX of –3%,
flat comparable sales, and
minimal adjusted operating profit (low double‑digit millions).

The actual results—especially the swing from a £41m loss to a £19m adjusted profit—looked slightly better than that set‑up.

TradingView’s data also suggests that: ^[32]

The last quarter’s EPS modestly beat estimates (0.01p vs –0.02p expected).
Next‑quarter EPS is expected to rise to around 0.18p.
Next‑quarter revenue is forecast at roughly £1.42bn, implying a step‑up in run‑rate in the second half.

On the ADR side, Telsey’s raised $0.32 (FY26E) and $0.48 (FY27E) EPS estimates show similar directional confidence in earnings growth, even if different FX assumptions make direct pence‑to‑cents comparisons messy. ^[33]

Short‑term technical view: cautious optimism

Technical‑analysis site StockInvest notes that on 1 December 2025 Burberry shares: ^[34]

rose 2.33% from 1,139.5p to 1,166p,
traded in a relatively wide 3% intraday range, and
saw higher volume than the prior day – usually a constructive sign.

However, over the last 10 trading days, the price has actually fallen in six sessions, even though it’s still up modestly over that two‑week span. Their model points to a “fair opening price” around 1,154.5p for 2 December, implying only a small bias upward from the prior close.

In other words, technicians are seeing short‑term consolidation rather than a runaway trend. That fits well with today’s small decline.

Key positives for Burberry stock right now

Putting the various reports together, the bullish side of the Burberry thesis as of 2 December 2025 looks something like this:

First sales growth in two years: Q2 comparable store sales are up 2%, beating expectations and ending a long losing streak. ^[35]
Margin rebuild is real: Gross margin at 67.9% and sharply lower inventories show that Burberry is rebuilding profitability in a disciplined way, not just dumping product at discounts. ^[36]
Turnaround strategy has traction: The “Burberry Forward” plan is resonating with customers via classic trench coats, check scarves and updated outerwear, plus stronger digital experiences. ^[37]
Sector tailwinds forming: Luxury as a whole looks to be crawling out of a two‑year slump, helped by an improving picture in China and bullish commentary from LVMH and others. ^[38]
Consensus sees earnings inflecting: Company‑compiled consensus implies a jump from near‑zero adjusted operating profit in FY24/25 to around £149m in FY25/26, with positive EPS. ^[39]
Most analyst targets sit above today’s price: MarketBeat, MarketScreener, TradingView and US ADR notes all cluster around mid‑teens percentage upside over 12 months, on average. ^[40]

Key risks and bear‑case arguments

The cautious or outright bearish view, championed recently by JPMorgan, rests on a different set of facts:

Momentum may be fragile: A 2% comp increase after a –20% comparison should be seen as stabilisation, not a roaring comeback. ^[41]
US and China are still wobbly: Burberry remains highly exposed to these two markets; any renewed slowdown, especially among aspirational consumers, hits harder here than at ultra‑tier houses like Hermès. ^[42]
Wholesale weakness and brand mix: Wholesale revenue is down (around –11% in H1), and the pivot back to core products will take time to fully reshape brand perception and pricing power. ^[43]
Execution risk on cost‑cutting: Burberry plans £80m of savings and has already announced 1,700 job cuts. That’s a lot of organisational surgery for a creative, brand‑driven business; the risk is that morale or product innovation suffers. ^[44]
Still recovering from a very bad year: FY24/25 saw revenue down double digits, adjusted operating margin at 1%, and adjusted EPS deep in negative territory. There is not much margin for macro error. ^[45]
JPMorgan’s long‑term numbers are below the Street: Their forecasts 5–15% below consensus EBIT for FY27–28 serve as a reminder that the current consensus path is not a sure thing. ^[46]

Key numbers at a glance (as of 2 December 2025)

Share price & trading ^[47]

Price: ~1,153p
Day move: –1.1%
Day range: 1,130.5p–1,160p
52‑week range: 597p–1,375p
1‑year performance: roughly +25–30%
Market cap: about £4.2bn
Beta: around 1.6–1.7

Valuation & ratings ^[48]

Trailing P/E: about –55x (loss‑making year)
MarketBeat: Hold, avg PT 1,336p (7 analysts)
MarketScreener: OUTPERFORM, avg PT 1,302p (19 analysts)
TradingView: Buy, avg PT 1,309.5p (20 analysts)
JPMorgan: Underweight, PT £9.50
ADR (Nasdaq data): avg PT $17.50 vs recent $13.18

Fundamentals (latest reported) ^[49]

FY24/25 revenue at constant FX: –15%
FY24/25 adjusted operating profit: £26m, margin 1.0%
FY24/25 adjusted diluted EPS: –14.8p
H1 FY26 revenue: £1.03bn (–3% YoY)
H1 FY26 comp sales: flat; Q2 +2%
H1 FY26 adjusted operating profit: £19m
H1 FY26 net loss after tax: £26m (vs £74m loss prior year)
Gross margin: 67.9%; inventory –24%

Capital structure ^[50]

Total ordinary shares: 363,824,611
Treasury shares: 2,839,220
Voting rights in issue: 360,985,391

FAQs: Investor questions about Burberry Group plc stock

1. Is Burberry stock a buy, sell or hold right now?

It depends which analyst you listen to:

MarketBeat’s LSE coverage: overall Hold (5 Buy, 2 Sell). ^[51]
MarketScreener:Outperform with an average PT around 1,302p. ^[52]
TradingView:Buy consensus from 22 analysts. ^[53]
JPMorgan:Underweight with a £9.50 target, clearly in the “sell” camp. ^[54]

So the aggregate signal is “cautiously constructive, but divided.” This article is informational only and not a recommendation to buy or sell; any decision should be based on your own objectives, risk tolerance and independent research.

2. What is the current Burberry share price target for 2026?

Across major sources tracking the London‑listed shares: ^[55]

MarketBeat avg 12‑month PT: ≈1,336p
MarketScreener avg 12‑month PT: ≈1,302p
TradingView avg 1‑year PT: 1,309.5p
US ADR coverage (Nasdaq / BBRYF): avg PT $17.50, implying ~33% upside vs a recent $13.18 close.

These are one‑year targets, not guarantees, and they can change quickly with new data.

3. What’s driving Burberry’s turnaround?

Recent coverage and company disclosures point to several drivers: ^[56]

Re‑focusing on heritage products (trench coats, scarves, outerwear) with recognisable branding.
A global cost‑cutting programme, including about 1,700 job cuts and an £80m savings target.
Inventory clean‑up and less reliance on promotions, lifting gross margin to nearly 68%.
Stronger visual merchandising and store concepts (e.g., “scarf bars”), plus better alignment between retail and e‑commerce.
Early signs of re‑engagement in China and improved performance in the Americas.

The risk, of course, is that macro headwinds or execution missteps derail that momentum.

4. What are the biggest risks to the Burberry investment case?

Based on recent notes and news flow: ^[57]

A renewed slowdown in luxury demand, especially from US and Chinese consumers.
Brand momentum failing to accelerate beyond low single‑digit comp growth.
Ongoing wholesale softness and potential pushback from partners.
Execution risk around large‑scale cost reductions and organisational change.
The possibility that consensus EPS and margin forecasts prove too optimistic, as highlighted by JPMorgan’s lower long‑term estimates.

Any of these could pressure earnings and force analysts to cut price targets.

5. Is this article financial advice?

No. This article summarises publicly available information and analyst commentary about Burberry Group plc stock as of 2 December 2025. It’s intended for informational and news purposes only, not as personalised investment, tax or legal advice. Always consider speaking with a qualified financial adviser and doing your own research before making investment decisions.