Burberry shares fall as luxury rival Kering reports worse sales

  • Burberry Group PLC (LSE:BRBY) shares fell 3.4% after Paris-listed rival Kering, owner of the Gucci label, reported a larger fall in first-quarter sales than analysts had forecast. Posting results overnight, Kering said sales fell 14%, with a 25% drop at Gucci and 9% at Yves Saint Laurent.