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Kering's Hopes Pinned on China Rebound, Gucci Revival After Booking Worse-Than-Feared 4Q -- Earnings Review

Por: MarketWatch Business February 15, 2023

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OPERATING-PROFIT FORECAST: Recurring operating profit for the year rose 11% to EUR5.59 billion, short of analysts' expectations for EUR5.75 billion. Gucci's operating margin slipped to 35.6%, a result of investment for growth coupled with a weaker top line, finance chief Jean-Marc Duplaix said in a post-results conference call. WHAT WE WATCHED: -TROUBLED 4Q: Expectations had been low for the fourth quarter given China's pandemic... + full article



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