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Sales at Kering’s flagship brand Gucci fell by 14 percent in the third quarter with overall group sales down 5 percent on a like-for-like basis, the French group said on Wednesday, beating market expectations.
It was the seventh consecutive quarter that Gucci’s business shrank by double digits, reminding investors of the dire reality in the brand’s boutiques despite newfound optimism in the sector.
“Kering’s third-quarter performance, while representing a clear sequential…
