Kering shares fall as the group reports slow sales growth at Gucci

Consolidated revenue at Kering for the first half of 2019 amounted to 7,638.4 million euros (8509.7 million dollars), an increase of 18.8 percent as reported and 15.3 percent based on a comparable group structure and exchange rates. However, the luxury conglomerate’s star brand Gucci registered 19.8 percent reported and 16.3 percent growth on comparable basis to 4,617.1 million euros (5,142 million dollars) in the first half. And according to Reuters, brand’s 12.7 percent rise in the second quarter missed analysts’ expectations for 14 percent to 15 percent growth, negatively impacting the company’s share prices on Friday.