Fashion
Gucci Owner Kering Warns of Sales Hit Due to Coronavirus
A pedestrian wearing a protective face mask stands outside the Gucci store in Milan, Italy, on Feb. 25.
Photographer: Camilla Cerea/BloombergKering SA’s first-quarter sales will fall about 15% on a comparable basis as the coronavirus pandemic shuts stores and keeps luxury shoppers at home, the Gucci owner said.
The French fashion company said second-quarter revenue will be “sharply impacted” as the outbreak spreads across the world and gains intensity in Europe.