Burberry falls 6% after dip in European sales

Shoppers deterred by terrorist attacks

Luxury retailer Burberry is down nearly 6% this morning after reporting lower than expected sales in Europe.

The firm saw shares fall from £13.45 to £12.65 by 10.40am after reporting a slowdown in sales in Continental Europe, as tourists were deterred from visiting these regions following the terrorist attacks in Paris earlier in the year. In its second half trading update, the luxury retailer said total revenue was down 1% to £1.4bn, while like-for-like sales fell 2% in the six months to 31 March. Chief executive Christopher Bailey said he expects the next year will be "challenging" for the firm and its focus is on reducing discretionary costs.  Why now is the time to back Burberry Sh...