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Kering Shares Fall After Gucci Growth Slows on Pandemic Impact

  • CFO expects new products to boost sales in fourth quarter
  • Gucci trends are lagging peers such as Louis Vuitton: analyst
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Kering SA shares tumbled after slowing growth at Gucci, its biggest brand, put more pressure on the label’s new collection to deliver a strong holiday season.

Comparable sales at the Italian brand rose 3.8% in the third quarter from a year earlier, Kering said in a statement Tuesday. Analysts had forecast a 9.3% increase.