Gucci-Owner Kering Slumps to 2017 Low on China Demand Fears
- Barclays cuts view to underweight, RBC to sector perform
- Slump extends while peers stabilize following last week’s rout
A Gucci store, operated by Kering SA, in Chengdu, China.
Photographer: Raul Ariano/BloombergThis article is for subscribers only.
French fashion designer Kering SA slumped to a seven-year low on worries about demand in China, with the Gucci brand owner among the worst-hit stocks in the recent luxury-sector selloff.
Kering fell as much as 4.3% on Monday, the most in about seven weeks, as analysts at Barclays Plc cut their recommendation on the stock to underweight from ‘equalweight.’