Kering, downwards forecasts for the first quarter of 2020

Kering, downwards forecasts for the first quarter of 2020

Downward forecasts in the world of luxury. After Burberry, Kering (the company of Gucci, Ysl, Bottega Veneta, Balenciaga and Pomellato brands) also tries to predict the possible impact of Coronavirus on sales for the quarter ending March 31 with a decline in turnover between 13% and 14% compared to the first quarter of 2019. If the health crisis continues, there will be strong repercussions also in the second quarter, both on local customers and on tourism. It will be necessary to wait until April 21, when the data relating to the first quarter will be released, to find out if the projections have been sufficiently far-sighted.

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