Pursuits
Kering Jumps as Gucci’s Strong Sales Bode Well for Christmas
- Shares rise to highest in more than 15 years as sales jump
- Gucci’s revenue increased at strongest pace in five years
A gold leather handbag sits in the window display of a Gucci luxury goods store, operated by Kering SA, in Lugano.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
Kering SA shares rose to the highest in more than 15 years after strong demand for new Gucci handbags and sandals contributed to the fastest quarterly sales growth since 2012, boding well for luxury-goods makers as Christmas approaches.
The stock jumped as much as 8.3 percent to 204.10 euros in Paris, the highest since June 6, 2001, when the company was known as Pinault-Printemps-Redoute. The gain was the steepest in about a year.