Burberry exits FTSE 100 due to sales decline, receiving third profit warning in a year.

Burberry, the British luxury fashion brand, is set to exit the FTSE 100 index after 15 years due to declining sales and management changes. The company, known for its trench coats and iconic check print, reported a 21% drop in first-quarter comparable store sales and issued its third profit warning in a year. New CEO Joshua Schulman aims to implement a cost-reduction strategy and increase focus on off-price retailers as the brand’s market cap falls to £2.34 billion.