Burberry quarterly sales growth sees decline to US$632 million


Reuters

LONDON — British luxury brand Burberry posted a slight slowdown in quarterly sales growth as trading conditions worsened in its markets. The 156-year-old firm, famous for its raincoats lined with a distinctive camel, red and black check pattern, said on Wednesday revenue was 408 million pounds (US$632 million) in the three months to the end of June, its fiscal first quarter, an underlying increase of 11 percent.

That was down from growth of 15 percent in the fourth quarter of the previous year and compares with analysts’ consensus forecast for growth of 13 percent, according to a company poll.