Kering's Shares Are Down 18%, and It's Hitting François Pinault's Pocket Book [Yahoo! Finance]
KERING SA UNSP/ADR (PPRUY)
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Source: Yahoo! Finance
Shares in the luxury conglomerate are down 18 percent in 2024, Bloomberg reported on Thursday. Rivals like LVMH and Hermès, meanwhile, have seen their stocks rise: The former has seen gains of 6 percent, while the latter has seen an impressive 20 percent increase. As such, Kering founder François Pinault's wealth has been cut in half in just three years. More from Robb Report Lighter, Looser, and Less Boring: How to Wear the Season's Coolest Suits Of Course Ryan Gosling Wore a Custom Pink Gucci Suit to the Oscars Gucci's Sales Fell 4 Percent in the 4th Quarter of 2023 “You're disappointed, you're frustrated—me too, I'm the first, be sure of that,” Kering CEO François-Henri Pinault told shareholders during the company's annual general meeting, according to Bloomberg. “It's a permanent concern.” Earlier this week, Kering said it was expecting its profits to decline as much as 45 percent in the first half of this year, a steep drop-off that didn't reassure those who have inv
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