Kering Shares Plunge 14% as Gucci Sales Forecasted to Drop 20% in Q1 from gucci belts men ebay Watch Video
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⏲ Duration: 0:35 👁 View: 1.7M times ✓ Published: 21-Mar-2024
Description: Kering shares plunged 14% after the company warned that Gucci sales are expected to fall 20% in the first quarter amid declining Asia transactions. The rare profit warning forecasts that Kering's overall first-quarter revenues will drop 10% due to a steeper sales drop at Gucci. Kering's warning dragged down shares of other European luxury giants LVMH, Dior, Hermes, and Burberry, by 2 to 5%. Gucci has struggled to retain market share as consumers tighten their belts due to inflation and shift to \
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