London: British luxury goods group Burberry met forecasts with a 4% fall in underlying first-quarter revenue and said on Wednesday trading conditions remained challenging.
The 153-year-old maker of raincoats and handbags said it had £229 million ($373 million) of revenue in the three months to 30 June, up 8% on the year. At constant exchange rates, revenues were down 4%.
Forecasts ranged from £218-239 million in a Reuters poll of seven analysts.
“Burberry has made a solid start to the year in what remains a challenging environment,” chief executive Angela Ahrendts said in a statement.