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Burberry sales growth slows in fourth quarter
April 19, 2017 / 6:15 AM / 8 months ago

Burberry sales growth slows in fourth quarter

LONDON, April 19 (Reuters) - British luxury brand Burberry reported a slight slowdown in its fourth-quarter comparable sales growth rate, as tough conditions in the United States weighed on an “exceptional” performance in its home market.

Known for its British-made trenchcoats, Burberry has benefited from tourists taking advantage of a drop in the value of the pound since the Brexit vote in June to buy luxury goods in the British capital rather than other European cities.

Burberry said the British market remained strong and it reiterated its full-year target. But comparable sales growth rose just 2 percent in the fourth quarter, below an analyst forecast of 3-4 percent growth, and below a third quarter rise of 3 percent. (Reporting by Kate Holton, editing by James Davey)

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