Gucci Sales Fall Again in Third Quarter
Gucci sales dropped six percent in the third quarter as shoppers stayed away from stores. Owner Kering faces ongoing challenges in China and the United States. Shares fell following the update.
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KERING reported a 6% drop in Gucci sales to €1.29 billion ($1.44 billion) during the third quarter, dealing a setback to its turnaround strategy. The luxury group faces headwinds from regional conflicts and softening consumer demand across key international markets. The latest figures complicate CEO Luca de Meo's five-year plan to double the company's profit margin.
