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RPT-Gucci sales growth pursues slowdown, parent Kering profit down
February 21, 2014 / 6:56 AM / 4 years ago

RPT-Gucci sales growth pursues slowdown, parent Kering profit down

PARIS, Feb 21 (Reuters) - Italian luxury brand Gucci continued to see its sales growth slow in the fourth quarter as parent Kering, also owner of Yves Saint Laurent and Bottega Veneta, posted sharply lower full-year profits, hit by restructuring charges.

Gucci, Kering’s flagship label which accounts for more than half of its market value, saw like-for-like sales growth in the three months to Dec. 31 drop to 0.2 percent from 0.6 percent in the previous quarter, while analysts had expected an improvement. (Reporting by Astrid Wendlandt; Editing by James Regan)

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