PARIS (Reuters) – Gucci owner Kering said on Thursday its sales rose 21% on a like-for-like basis over the first quarter, as strong appetite for its high-end fashion labels in the U.S. and Europe helped offset disruptions to business in China due to COVID-19 lockdowns.
Sales for the three months ending in March came to 4.96 billion euros, slightly above a forecast for 4.89 billion from Citi analyst Thomas Chauvet, who tops Refinitiv Eikon’s rankings for Kering estimates in terms of estimate accuracy.
(Reporting by Mimosa Spencer; Editing by Hugh Lawson)
