Kering Expects Operating Profit to Drop 40-45% in the First Half of This Year

Kering forecasts its operating profits to fall by 40-45% in the first half of this year, while revenues sink at Gucci in the first quarter, according to WWD.The luxury conglomerate, home to additional brands including Saint Laurent, Bottega Veneta, Balenciaga and Alexander McQueen, among others, reported its first-quarter results on Tuesday, revealing that group revenues declined by 11% to reach €4.5 billion EUR."Taking into account the deterioration of its revenue trends, the group now antici...