Burberry downgrades full-year results guidance

British luxury fashion brand Burberry on Friday warned that its annual results would be below previous guidance, blaming a further slowdown in demand that hit sales in the key December trading period. The group now expects full-year adjusted operating profit in a range between 410 million pounds ($523 million) and 460 million pounds. They were up 3% in the Asia Pacific region but down 5% in Europe and down 15% in the Americas.

British luxury fashion brand Burberry on Friday warned that its annual results would be below previous guidance, blaming a further slowdown in demand that hit sales in the key December trading period.

The group now expects full-year adjusted operating profit in a range between 410 million pounds ($523 million) and 460 million pounds. Retail revenue in the 13 weeks to Dec. 30 was down 7% at 706 million pounds while comparable store sales fell 4%. They were up 3% in the Asia Pacific region but down 5% in Europe and down 15% in the Americas. ($1 = 0.7833 pounds)