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Burberry hit by US slowdown ahead of executive reshuffle at the firm

Group comparable sales up 2% in Q4, below analysts' average forecast of 4% and previous quarter's 3%

Published Wed, Apr 19, 2017 · 09:50 PM
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BRITISH luxury brand Burberry on Wednesday reported a slowdown in quarterly sales growth as tough trading in the United States checked recent gains driven by a weaker pound and showed the problems facing its new chief executive.

Shares in the fashion house, led by designer Christopher Bailey and known around the world for its classic trench coats, were down by 6 per cent by 1220 GMT on Wednesday, having earlier been as much as 7.6 per cent lower.

The stock had risen more than 50 per cent after Britain voted last June to leave the European Union, triggering a plunge in the pound that has attracted tourists to London to buy luxury goods including the new DK88…

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