Gucci quarterly sales slump on Asia slowdown
Paris
KERING SA reported a worse-than-expected slump in sales at the Gucci luxury-goods brand amid a slowdown in Asia and signalled it will rebalance some prices as a weakening euro widens the differential between regions.
Comparable sales at the unit fell 7.9 per cent in the first quarter, Paris-based Kering said on Tuesday in a statement after markets closed, missing the median estimate for a 4 per cent drop. Group sales met estimates, helped by a we…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
Swiss watch exports plunge as China and Hong Kong demand dries up
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Billionaires selling cheap stuff get richer from inflation pain