Shares of French luxury group Kering sank more than 9% at open on Wednesday. The company warned it expects a sharp downturn in first-half profits as a result of waning demand for its Gucci brand.

PARIS — As France’s Parliament debates an austerity budget to tackle its gaping deficit, Kering is extending its own arsenal of cost-cutting measures to counter an expected 50 percent drop in ...

French Luxury brand Kering (FR:KER) issued a profit warning for the second half of 2024 after its Q2 sales dropped, reflecting struggles to revive its flagship brand, Gucci, amid weak demand in China.

We are reducing our fair value estimate for narrow-moat Kering to EUR 510 from EUR 600 after the company issued a profit warning for first-quarter sales trends for the business, overall, and the Gucci ...