Burberry investors watch for signs of sales turnaround.

 Investors have high hopes for Burberry to start showing signs of progress in its turnaround when the British luxury brand reports sales for the crucial festive season this Friday.

Joshua Schulman, who took the reins as CEO six months ago, has promised to build the brand back and reclaim lost market share, a tough ask in a struggling luxury market, by focusing on products like trench coats that Burberry is best known for.

Burberry shares have gained more than 70% since hitting a near 15-year low at the start of September, as investors bet that pessimism around the brand has peaked and Schulman will be able to drive sales up again.

Analysts expect Burberry to report a 12% decline in comparable sales for the quarter to end-December, according to a company-compiled consensus estimate, an improvement from the 20% drop it reported for the six months to end-September.

Source: FINANCE.YAHOO