​Gucci Crisis Drags Kering Shares To Largest Annual Drop Since 2008 – Tyler Durden

Gucci Crisis Drags Kering Shares To Largest Annual Drop Since 2008 Gucci owner Kering SA’s problems in mainland China are worsening by the month. After issuing a profit warning earlier this year, the company now expects its annual profits to hit their lowest level since 2016, driven by weak demand from the world’s second-largest economy. Shares have plunged by over 40% this year, marking the steepest annual decline since the GFC in 2008. Kering booked revenue of 3.79 billion euros ($4.09 billion) in the third quarter, down 15% year-over-year and missed the average estimate tracked by Bloomberg of 3.96 billion euros. On a…  — Continue at ZeroHedge News : Read More