March 25, 2024
05:56
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Kering warns Q1 profits to take 10% hit as demand weakens
A slowdown in spending on luxury items has seen stocks of major European brands tumble. Most notably Kering- the parent company of Gucci, Balenciaga, and Saint Laurent- whose shares plunged 14 percent on Tuesday after warning that profit margins would be down this year. Tayyibe Aydin reports.
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