Pursuits
Gucci’s Slowest Sales Growth in Four Years Weighs on Kering
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Kering SA’s Gucci luxury-goods brand posted the weakest quarterly sales growth in four years amid softening demand in Europe and China, increasing concern over a slowdown at the company’s biggest unit.
Gucci’s fourth-quarter comparable sales gained 0.2 percent, Paris-based Kering said today in a statement, decelerating from the third quarter and trailing estimates for 0.8 percent growth. The shares fell as much as 3.7 percent, wiping about 700 million euros ($960 million) off Kering’s market value.