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Burberry sales growth slows as US weighs on group

Burberry said the British market remained strong and it reiterated its full-year profit target, helped by the boost from the weak pound

Gulf News

London: 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. Burberry said the British market remained strong and it reiterated its full-year profit target, helped by the boost from the weak pound. But comparable sales growth rose just 2 per cent in the fourth quarter, below an analyst forecast of 3-4 per cent growth, and below a third-quarter rise of 3 per cent.

Known for its classic trench coats, 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.

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