Kering Q1 sales lifted by U.S., Europe

2022.04.21 19:16

FILE PHOTO: A man looks at a window display outside a Gucci store, part of the Kering group, at Tsim Sha Tsui shopping district in Hong Kong January 17, 2013. REUTERS/Bobby Yip/File Photo

PARIS (Reuters) – Gucci owner Kering (EPA:PRTP) said on Thursday its sales rose 21% on a like-for-like basis over the first quarter, as strong appetite for its high-end fashion labels in the U.S. and Europe helped offset disruptions to business in China due to COVID-19 lockdowns.

Sales for the three months ending in March came to 4.96 billion euros, slightly above a forecast for 4.89 billion from Citi analyst Thomas Chauvet, who tops Refinitiv Eikon’s rankings for Kering estimates in terms of estimate accuracy.

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