(Bloomberg) — Burberry Group Plc (BRBY.L, BURBY, BB2.F, BB2.HA, BRBYL.XC) is on the verge of exiting the FTSE 100 Index, ending the luxury-goods maker’s 15-year stay in the UK blue-chip gauge.
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Hampered by an industry-wide slowdown in demand and a faltering brand revamp, the firm’s shares have slumped by a third over the past three months, sending Burberry tumbling down the market-value rankings that index compiler FTSE Russell uses to determine changes to the benchmark.
Ahead of Tuesday’s quarterly announcement of provisional changes to the index, Burberry’s market capitalization of £2.5 billion ($3.3 billion) puts it 140th in the FTSE 350 Index of the UK’s large and midcap stocks. That’s far below where it needs to be to retain its place in the FTSE 100, which it has been a constituent of since September 2009.
Burberry “looks a shoe-in for relegation from the FTSE 100,” said Susannah…
