Plotted on a graph, the recent share price performance of Burberry suggests it has eschewed its famous checks for the sawtooth style. By last October, the stock had in 16 months made back all of the losses from its near halving during the preceding 16 months, only to begin sliding once again. Talk about falling in and out of fashion.
The company is at a crossroads. As all good fashionistas know, it is vital to reinvent oneself every so often. Burberry is preparing for life after Christopher Bailey, who departed last month after 17 years. The self-effacing Yorkshireman deserves every plaudit going for leading the transformation of a raincoat maker into a global luxury brand, but the decision to...