Kering Stocks Affected by Gucci Sales Slump, Profit Projections Take a Hit
Wednesday, 24 April 2024, 08:37
Kering Stocks Decline Due to Gucci Sales Slump
Kering, a luxury goods company, faced a 10% decrease in its first-quarter revenue, attributed to the slow sales at its flagship brand Gucci.
Key Points:
- Profit Projections Down: Kering anticipates a significant drop in profits, with estimates as high as 45% due to the ongoing sales weakness.
- Impact on Asian Market: Gucci's performance in Asia has been particularly affected by the slowdown, posing challenges for the company's overall financial outlook.
- Market Response: Investors and industry analysts are closely observing the situation to gauge the long-term consequences on Kering's market position and financial stability.
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