British luxury brand Burberry reported a slight slowdown in its fourth-quarter comparable sales growth rate with tough conditions in the United States weighing on an "exceptional" performance in its home market.
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 to buy luxury goods in Britain. Burberry said the British market remains strong and it reiterated its full-year profit target. But comparable sales growth rose just 2 percent in the fourth quarter - less than forecast and after a third-quarter rise of 3 percent.
Sales took a fall in the Americas, while key markets including Hong Kong also declined.