Kering CEO Sees No Improvement in Chinese Demand This Year

Francois-Henri Pinault, Kering SA’s chief executive officer, said he doesn’t expect an improvement in Chinese demand this year, dimming hopes for a rebound at Gucci, the company’s biggest brand.

The comment, made on a call with analysts, took the wind out of a rally in Kering’s shares, which had surged after the company’s financial results encouraged some investors to bet that that the worst was over for the struggling luxury group.