Burberry shares drop after weak U.S. sales
STORY: Burberry was back in fashion with Chinese buyers over the fourth quarter.
That helped the luxury brand make stronger-than-expected sales over the period.
China made up just under a third of all sales for Burberry in the quarter as health crisis restrictions ended.
Europe also performed strongly, with sales there up 27%.
That was driven largely by tourists from the Middle East and Americas.
But shares in the company still fell over 6% on Thursday (May 18).
Investors were worried over weak demand in the Americas, where sales were down 7%.
Burberry said the region was a 'challenge at the moment'.
It blamed weaker spending by younger consumers, which had hurt its lower-priced categories.
The British brand's shares had hit record highs in recent months due to optimism over China's recovery.
Burberry's luxury rivals Hermes and LVMH have also reported a bounce in first quarter sales.
As with Burberry, that was due to a recovery in China and wider Asian markets.