One bright spot in the gloom currently pervading the luxury goods sector was Gucci’s release last week of its results for the first half of the year.

Net profits for the six months ending July 31 came in at $139 million compared with analysts’ top end estimates of $130 million. They also compared favourably with the year-before figure of $128 million. And whereas analysts had been expecting net profits to fall by up to 32% in the second quarter, in fact they showed a slight gain of 2% to top $83 million.

Share this story: