Luxury retailer Kering warns of profit slump as Gucci burdens continue
by @cityam
@cityam— Kering braces for a profit slump in the first half of the year as the French luxury goods giant struggles to win back Gucci sales.
CNBC—Kering shares sink 9% after profit warning on declining Gucci sales. Shares of French luxury group Kering sank more than 9% Wednesday after the company warned it expects a sharp downturn in first-half profits as demand for its Gucci brand continues to wane.
dailym.ai—When will Gucci get its house in order? Fashion giant needs new saviour to arrest a slump in profits and sales. But there is talk that a predator rather than rescuer could emerge. Gucci is one of two brands most coveted by Bernard Arnault, boss of LVMH.
Tech Times—Tesla Continues Downward Trend with 55% Profit Drop. Leading EV manufacturer Tesla continues to lose sales, with another profit drop of as much as 55%. Tesla's profits are reportedly down 55% due to competition, and its price-cutting strategy finally caught up with that of the automaking giant.