(AOF) – Current trends lead Kering to estimate a drop in consolidated turnover of around 10% on a comparable basis in the first quarter of 2024 compared to last year. “This performance mainly reflects a more marked decline in Gucci, particularly in Asia-Pacific,” explains the luxury group. Thus, Gucci’s turnover as of March 31 should be down almost 20% on a comparable basis.
The combined effect on reported revenue of the positive contribution linked to the consolidation of Creed and the negative impact of exchange rates is estimated to be around -1% to -2%.
Kering will publish its first quarter 2024 revenue on April 23 after market close.
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