Kering forecasts sharp decline in H1 operating profit

Kering Group’s first quarter revenue of 4.5 billion euros, declined 11 percent as reported and 10 percent on a comparable basis.

The company said in a statement that revenue from the directly operated retail network fell 11 percent on a comparable basis, as a result of lower store traffic. Revenue in the wholesale and other segments was also down 7 percent on a comparable basis.