Analysts worry about Kering's performance and its impact on the luxury goods sector. Kering's sales decline is alarming and its efforts to revive Gucci are still in early stages.
Citi analysts view Kering's warning as a concerning sign for the luxury goods sector. Jefferies analysts point out that Kering's warning mainly shows a sharp decline of Gucci in Asia-Pacific, especially China. Bernstein analysts emphasize that Kering's issues are company-specific but also suggest weak consumer confidence and discretionary spend in China.
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