Gucci-fever helps Kering beats sales forecast in Q4

by REUTERS

PARIS  – French luxury goods group Kering on Tuesday posted better-than-expected sales growth in the fourth quarter as its biggest label 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) between October and December, up 27.4 percent on a comparable basis.

That marked a slight slowdown in revenue growth from a quarter earlier, although analysts polled by Inquiry Financial for Reuters had forecast comparable sales growth of 24.3 percent for the fourth quarter.