Kering Q4 sales decline 4%, flags improvement in US, Europe

Kering posted a 4% decline in fourth quarter sales, hit by slowing demand for fashion as it seeks to turn around its top brand Gucci, but flagged an improving performance in the United States and Europe.

Sales at the French group, which also owns fashion labels Bottega Veneta and Balenciaga and jeweller Boucheron, came to 4.97 billion euros ($5.36 billion) in the final three months of the year, broadly in line with expectations for 4.94 billion euros, according to consensus estimates cited by RBC. ($1 = 0.9276 euros)