British luxury brand Burberry reports 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. David Pollard reports.
Famous for its trench coats.... And as British as the London rain they keep out ... Burberry's been boosted by a Brexit-battered pound. (SOUNDBITE) (English) SENIOR ANALYST, HARGREAVES LANDSDOWNE, LAITH KHALAF, SAYING: "Sales really good in the UK as tourists are coming over here to buy Burberry because it's a lot cheaper for them thanks to weaker sterling." But weatherproof classics don't always translate to a market-proof performance. Overall revenue growth slipping below forecasts to just two per cent in Q4. US demand down in the second half - as were sales in Hong Kong and Korea. Burberry's share price slipping over five per cent on this latest news. (SOUNDBITE) (English) SENIOR ANALYST, HARGREAVES LANDSDOWNE, LAITH KHALAF, SAYING: "Still problems in the Far East in their key markets over there and that's one of the things that will be a key focus for the incoming chief executive later this year." Marco Gobbetti is due to take over full responsibilities in July from Christopher Bailey. He will take on the new role of president and chief creative officer.