Kering’s revenue fell by less than analysts expected in the fourth quarter as the Gucci owner seeks to reinvigorate a turnaround plan for its core brand. Some luxury groups have pointed to signs of a rebound in demand,

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 SA shares rose as investors took encouragement from better-than-expected profit and signs of stabilization at Gucci, its biggest brand, which has suffered in recent years from weaker demand.Most Read from BloombergNice Airport,