Kering Q4 Sales Disappoint , Sales fell 8.2 percent in the fourth quarter, as organic revenues at Gucci dropped 10.3 percent, missing analysts’ expectations.
The French luxury conglomerate reported on Wednesday that revenues in the three months to Dec. 31 totaled 4.0 billion euros, representing a decline of 5 percent. Kering’s share price should take a hit as growth also slowed at its smaller brands, Bottega Veneta and Saint Laurent.
By comparison, sector leader LVMH Moët Hennessy Louis Vuitton last month reported a 3 percent decline in organic sales in the fourth quarter, although its key fashion and leather goods division recorded an 18 percent jump in revenues, led by Louis Vuitton and Dior. Hermès International is scheduled to report full-year results on Friday.