Gucci Sales Fall as Weakness Persists at Kering’s Top Label
- Italian brand’s quarterly sales fall amid turnaround efforts
- Pinault warns of more profitability pain ahead for the group
Gucci sales fell in the final months of last year as the Italian label owned by Kering SA struggled to lure more wealthy shoppers to its pricey Double G belts and Princetown slippers.
Comparable revenue at Gucci fell 4% in the fourth quarter, Paris-based Kering said Thursday, while also warning that a key measure of group profit will fall this year.