Gucci Turnaround Will Take More Time Amid Weak China Demand, HSBC Says

Kering’s attempt to turn around Gucci will take longer than anticipated, according to HSBC luxury and sporting goods analyst Aurelie Husson-Dumoutier. Speaking on Bloomberg Television, she explains that while the US has entered a path of more normalized growth, it’s "not enough to compensate for the weakness in the Chinese consumer."

Read more on this story here: https://www.bloomberg.com/news/articles/2024-04-24/kering-shares-drop-after-gucci-slump-prompts-profit-warning
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