Kering warns H1 operating profit to tumble as Gucci sales fall – ET Retail
French luxury group Kering expects a 40% to 45% plunge in first-half operating profit, it said on Tuesday, after first-quarter sales declined as wealthy shoppers curbed spending on products from its star label Gucci. Sales for the three months ending in March were down 10% on a comparable basis at 4.5 billion euros ($4.8 billion)….