Burberry Leads Luxury Stocks Lower as Slowing Sales Fuel Concern

Burberry Group Plc led luxury-goods stocks lower after reporting sales that missed analysts’ estimates for a second straight quarter, fueling concern that Europe’s debt crisis and slowing growth in China are finally taking a toll on demand for high-end goods.

Burberry, the U.K.’s largest luxury company, fell as much as 6.9 percent in London trading, sliding to the lowest price since Jan. 3. Cie. Financiere Richemont SA, the maker of Cartier jewelry, dropped as much as 2.1 percent, while LVMH Moet Hennessy Louis Vuitton SA slid as much as 3 percent.