PARIS, April 24 — French luxury group Kering expects a 40 per cent to 45 per cent plunge in first-half operating profit, it said on Tuesday, after first-quarter sales declined as...
Sabah paid four times higher than Sarawak for Pan Borneo Highway compensation because of existing road widths, says state works minister
Sales for the three months ending in March were down 10 per cent on a comparable basis at €4.5 billion . The revenue decline and ongoing investment needed in the brand will hurt first half profits, with Gucci not seeing much improvement in the second quarter, company executives told analysts on a call.“It is not surprising that brands in transition may be experiencing bigger difficulties in a softening demand environment, as consumers concentrate their spend on must-have brands,” analysts at Bernstein said in a note.Traffic in luxury stores in Asia has been especially low, Kering executives said.
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