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April 25, 2008
Gucci's Sales Slip On Product, Supply Issues
Sales at Gucci dipped 3.3% in the first quarter of the year to $770 million as luxe brand faced issues such as slower traffic and supply chain troubles. Gucci said it also missed the mark by focusing on its high-end products instead of the middle-range goods that consumers are clamoring for.
Gucci parent PPR said that it would work on overcoming these problems in the quarters ahead. Meanwhile, PPR’s other luxury brands showed much stronger growth for the period ended March 31.
Yves Saint Laurent reported sales growth of 20% to $95 million while Balenciaga offered high, double-digit growth.
Posted by Blacks on April 25, 2008 10:02 AM
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