LONDON — It was a difficult quarter, with double-digit revenue declines across all its major brands, an in key regions corresponding to Europe and North America, but Kering is undaunted, and planning for higher days ahead.
Within the third quarter, Kering saw group revenue fall 13 percent at reported exchange rates and 9 percent on an underlying basis to 4.46 billion euros. The numbers were broadly consistent with analysts’ expectations, and got here amid a wider luxury slowdown and geopolitical upset.
Sales at Gucci, Kering’s largest brand, which generates greater than 50 percent of group revenue, fell 14 percent on a reported basis and seven percent underlying to 2.22 billion euros.
At Yves Saint Laurent, a brand that’s roughly one-third of Gucci’s size, sales were...
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