Luxury clothing retailer Burberry fell 3.4 percent this morning, after reporting a slowdown in sales growth for the last quarter.

Same-store sales at the British fashion house rose 6% in the three months to end-June compared with a 12% rise reported for the same period last year.

The company were hit by a slackening demand for luxury goods in Hong Kong and other parts of the Asia-Pacific region, as experienced by the rest of the luxury sector.

Chief executive Christopher Bailey said he was pleased with the growth reported in a statement. He said: “This [result] reflects our ongoing emphasis on serving our customers ever more effectively on and offline, and continued innovation in design and marketing.”