News

Gucci’s blames SARS and tourism slowdown for half year sales slump

23/07/2003

The Gucci Group has blamed a “challenging” second quarter for the 10.6% decline in sales seen in the first half of the year. In Europe, retail sales plummeted 21.3% on a constant exchange rate basis, suffering from the slowdown in tourism, particularly in France and Italy. Retail sales dropped 11.6% in the US and 4.7% in Asia excluding Japan.

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