Kering Posts 3Q Sales Up 23%, Boosted by Gucci

By FeaturesDow Jones Newswires

Kering SA (KER.FR) said Tuesday that its sales increased in the third quarter, buoyed by the continuing success of its flagship Gucci brand and growth at its Saint Laurent fashion house.

Sales in the quarter totaled 3.93 billion euros ($4.6 billion), up 23% compared with the same period last year. Growth was driven mainly by Gucci, which posted sales of EUR1.55 billion, up 43%. Gucci posted double-digit growth across all product lines and robust growth in its online sales, continuing a strong performance over the past two years.

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Sales at Saint Laurent, Kering's second-largest brand, rose 18% to EUR383.7 million, helped by an increase in online revenue and growth in the company's retail and wholesale divisions.

Sales at Kering's Bottega Veneta brand totaled EUR280.7 million, down 4.5%.

"Facing unfavorable currency impacts and a tougher base of comparison, we remain fully confident in Kering's ability to achieve a record year, fueled by sector-leading growth," Kering Chief Executive Francois-Henri Pinault said.

Write to Euan Conley at euan.conley@dowjones.com

(END) Dow Jones Newswires

October 24, 2017 12:06 ET (16:06 GMT)