A double-digit slowdown at Gucci and a “difficult” December for Balenciaga contributed to a 7 percent dip in fourth-quarter revenues at Kering.
rose 4 percent on a comparable basis. Revenues at the “Kering Eyewear and corporate” segment advanced 28 percent in the three-month period.
Net profit attributable to the group rose 14 percent to 3.61 billion euros, while recurring operating income improved 11 percent to 5.59 billion euros.Gucci sales inched up 1 percent to reach 10.49 billion euros, whileconglomerates to report end-of-the-year results. Last month, LVMH Moët Hennessy Louis Vuitton said revenues rose 15 percent in the fourth quarter to 22.7 billion euros, an increase of 9 percent at constant exchange rates. Its fashion and leather goods businesses posted a 10 percent rise in organic revenues.
Compagnie Financière Richemont reported sales gained 5 percent during the holiday selling period, with its jewelry and fashion maisons offsetting weakness in watches.
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