Kering Shares Drop 11% as Gucci Sales Slide
Kering shares fell 10% Friday after the group reported further sales declines. It reaffirmed CEO Luca de Meo's turnaround plan and said it would accelerate store closures, targeting 125 by year-end.
Shares in Gucci owner Kering (EURONEXT:KER) fell 10% on Friday after the company reported further sales declines. It said it would continue with CEO Luca de Meo's turnaround plan and step up store closures, targeting 125 by year-end. Gucci's downturn continued despite De Meo's plan to make the bran