Gucci-fever helps Kering beats sales forecast in Q4
Analysts polled by Inquiry Financial for Reuters had forecast comparable sales growth of 24.3 percent for the fourth quarter.February 13, 2018 | comments ( 0 ) |
French luxury goods group Kering has posted better-than-expected sales growth in the fourth quarter after its major brand Gucci recorded another solid performance following a reinvention of the brand.
Kering said sales rose 21.4 percent year-on-year to 4.26 billion euros ($5.25 billion) in the third quarter up 27.4 percent on a comparable basis.
Although the company marked a slight slowdown in revenue growth from a quarter earlier, analysts polled by Inquiry Financial for Reuters had forecast comparable sales growth of 24.3 percent for the fourth quarter.
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