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Kering Q3 Sales Down 4.3%

French luxury goods company Kering SA (PPRUY.PK,PPRUF.PK), Thursday said it sales for the third quarter dropped by 4.3% hurt by lower Gucci sales.

Third-quarter sales were 3.72 billion euros, down 4.3% from 3.88 billion euros last year. On a comparable basis, sales were down 1.2 percent.

Among brands, Gucci sales slipped 12.1 percent to 2.09 billion euros, Yves Saint Laurent rose 0.8 percent to 510.7 million euros, Bottega Veneta gained 17.0 percent to 332.5 million euros, and other brands rose 9.3 percent to 669.1 million euros.

"In a tough environment, Kering achieved substantial revenue recovery in the third quarter. The creativity of each of our Houses and the agility of our organization led to a sharp rebound in sales, nearly matching the level of the 2019 third quarter," CEO François-Henri Pinault.

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