Kering fourth quarter sales beat expectations despite ongoing Gucci slump
Kering reported a three percent drop in quarterly revenue on Tuesday. While Gucci sales fell for a tenth straight period, the results beat analyst expectations.
Insights:
Kering announced its fourth-quarter results today, reporting sales of 3.9 billion euros. This figure represents a 3% year-on-year decline, a result that was nonetheless smaller than the decline analysts had previously forecast. The announcement comes as the luxury group navigates a challenging environment, though the latest figures exceeded the consensus expectations established by market observers.
