Gucci sales to fall 20% in first quarter, Kering warns

French luxury goods company Kering has issued a profit warning, projecting a 20% decline in Gucci sales in the first quarter of 2024. The unexpected forecast has raised concerns among investors and analysts. Gucci, known for its high-end fashion and accessories, has been a key revenue driver for Kering in recent years. The anticipated decline in sales is attributed to various factors, including global economic uncertainties and changing consumer preferences. Kering’s warning highlights the challenges faced by luxury brands in an evolving market.