Burberry CEO trades in shares

21st Aug 2014 18:04

Christopher Bailey, the new chief executive of Burberry, has traded in more than £1m-worth of shares in the fashion label. The director sold 68,667 shares at 1,466.99p apiece. At the same price, he also sold 211,904 of the 288,120 shares he received from the company's co-investment plan, together with 73,547 of the 100,000 he received from the senior executive restricted share plan. Following the transactions, Bailey's stake in the company now stands at 303,110. Last month the group reported a 17% increase in underlying retail revenue to £370m, but warned of an increase in currency headwinds. A statement from the group said that some of the shares were sold to cover tax liabilities. NR