Burberry’s new American boss says taking Britain’s best-known fashion brand down market is not in the cards. Instead, Joshua Schulman said he wants to stay the course on elevating the brand but with a better balance on prices,

There were no surprising faces on the catwalk (held this time at the National Theatre, rather than the usual outdoors tent) but clearer indicators of where Schulman, who was in attendance, and Lee might be looking to take Burberry next.

Burberry Group PLC BRBY shares inched up 0.50% to £6.08 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the FTSE 100 Index UKX falling 0.68% to 8,253.68.