UPDATE 1-Lagardere Q1 sales drop, says press ad market tough

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PARIS, May 6 (Reuters) - French media group Lagardere (LAGA.PA: Quote, Profile, Research) on Tuesday posted a 4.9 percent drop in first-quarter sales and said traditional magazine advertising was on a downward trend in countries excluding emerging markets.

The world's biggest publisher of consumer magazines, which include Elle and Paris Match, generated revenues of 1.814 billion euros ($2.81 billion) in the three months to March 31, down from 1.908 billion euros in year-ago period.

Lagardere said the decline could be partly explained by the appreciation of the euro against other currencies which knocked off 39 million euros from sales in the first quarter.

The disposal of Virgin stores and regional newspapers also led to 141 million euros in lost revenues.

On a comparable basis, stripping out acquisitions, disposals and the impact of foreign exchange, revenues rose 2.1 percent during the period.

The group's magazines business saw a 6.9 percent drop in sales to 385.3 million euros during the first quarter.

"Outside emerging markets, traditional advertising is on a general down trend, especially in Japan, the United States, Spain and France," Lagardere said in a statement.

"However, growth remains strong in the United Kingdom."