International Companies
Luxury stocks slide after Kering warns on profits
By Abigail Townsend
Date: Wednesday 20 Mar 2024
(Sharecast News) - Shares in Gucci-owner Kering tumbled on Wednesday, after the French luxury group warned on profits.
In a brief statement released late on Tuesday, Kering - which also owns Saint Laurent, Creed and Alexander McQueen, among others - said first-quarter consolidated revenues were likely to be down 10% year-on-year.
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