Gucci sales slump continues

Shares in Gucci-owner Kering rise on turnaround hopes
STORY: Gucci-owner Kering wasn't in fashion with buyers during the fourth quarter.The French luxury group reported a 12% drop in sales from a year earlier Tuesday (Feb 11), dragged down by its flagship Gucci brand.
Gucci slump continues to weigh on Kering
By Mimosa Spencer and Tassilo Hummel PARIS (Reuters) -Luxury group Kering's fourth quarter sales were hit by a continued slump at its main brand Gucci, it said on Tuesday, but a slight improvement in the group's performance in major markets China and the United States buoyed investors.
Gucci slump continues to weigh on luxury goods group Kering
Luxury group Kering’s fourth quarter sales were hit by a continued slump at its main brand Gucci, it said on Tuesday, but a slight improvement in the group’s performance in major markets China and the United States buoyed investors.
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French luxury group Kering reported a 12% drop in fourth quarter sales on Tuesday, dragged lower by its Italian brand Gucci, but flagged a slight improvement in major markets China and the United States.
Kering hit by weak sales at Gucci
Kering’s sales fell 12 per cent on an organic basis in the fourth quarter to €4.39bn. At Gucci, which typically accounts for about half of group sales and two-thirds of profits, sales fell 24 per cent to €1.92bn in the quarter, missing analyst expectations, while operating income for the full year fell 51 per cent to €1.6bn.
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Gucci will bounce back soon, the Italian fashion house's parent company Kering said on Tuesday after its poor showing contributed to the group's profits falling to 1.13 billion euros in 2024, down by 62% with respect to the previous year.
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