Kering hit by weak sales at Gucci
- Kering reported a 12% decline in fourth-quarter revenues to 4.39 billion euros, impacted by a 24% drop in Gucci sales, according to the company's report.
- Gucci's sales fell significantly due to a failed aesthetic overhaul, leading to a 24% drop compared to the previous year, according to Kering's announcement.
- Kering's CEO, François-Henri Pinault, expressed confidence in reaching a "point of stabilization" and plans for gradual growth moving forward.
- Analysts predict that Gucci will not rebound until next year, with the new designer's appointment potentially slowing progress, according to RBC.
14 Articles
14 Articles
Kering in deep crisis as Gucci sales fall 24 % - RetailDetail EU
The last quarter of 2024 was even worse than expected for Gucci, as its sales dropped by a quarter. As a result, its owner Kering saw its annual sales fall 12 % last year. There is, however, one beacon of hope for the French luxury giant. Expensive mistake With a sales drop of 24 %, Gucci’s last three months of 2024 were (even) worse than what analysts had estimated. During the first nine months of 2024, the brand’s sales had already fallen by 2…
Gucci will bounce back, Kering says after profit slump
Gucci will bounce back soon, the Italian fashion house's parent company Kering said on Tuesday after its poor showing contributed to the group's profits falling to 1.13 billion euros in 2024, down by 62% with respect to the previous year. (ANSA)
Kering slightly beats fourth-quarter forecasts but sales at embattled Gucci brand plunge 24%
French luxury goods firm Kering on Tuesday reported better-than-expected fourth-quarter sales that were nevertheless down year-on-year amid lagging demand for its main Gucci label.
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