LONDON, UNITED KINGDOM – 2020/07/16: Storefront of the Burberry store in the prestigious New Bond Street. (Photo by Dave Rushen/SOPA Images/LightRocket via Getty Images)
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LONDON — British luxury fashion house Burberry Group dropped out of the U.K.’s FTSE 100 stock market index on Wednesday, as waning sales and a slew of management changes have added to the mounting pressures facing the 168-year-old retailer.
The company slipped into the FTSE 250 during September’s quarterly rebalancing, index provider FTSE Russell said in a statement, bringing its 15-year run in the U.K. large-cap FTSE 100 blue-chip index to a close.
The changes will be implemented at the close of trade on Sept. 20 and will take effect from Sept. 23.
The relegation deals a fresh blow to Burberry, whose share price has suffered a precipitous decline over recent months as the brand has fallen out of favor with consumers amid a wider slowdown in the luxury market.
The stock is …