Kering's Sales Decline Amid Economic Challenges

Kering, a global Luxury group, reported a 4% decline in fourth-quarter sales, attributed to weak consumption in the United States and Europe. The company's efforts to revive sales at its star label Gucci have been complicated by tougher economic conditions and the reduction of sales through wholesale channels. However, Kering highlighted an improvement in the United States and Europe, with a 20% growth in sales for its Italian luxury label Bottega Veneta in the United States during the quarter.