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BRIEF-France's Kering says forex headwind will not improve in Q4
October 24, 2017 / 5:15 PM / a month ago

BRIEF-France's Kering says forex headwind will not improve in Q4

Oct 24 (Reuters) - Kering CFO Jean-Marc Duplaix:

* Says on conference call that foreign exchange “turned heavily negative in the quarter”, hit revenue in luxury division by around 90 million euros ($105.85 million) and the group as a whole by 128 million euros.

* Says “this headwind is not likely to get better in Q4”

* Says operating profit margins at Gucci will be similar in second half to first half of the year, or possibly higher

* Says Gucci will raise its prices around 5 percent on products from its Spring/Summer 2018 collection Further company coverage: ($1 = 0.8503 euros) (Reporting by paris.newsroom@thomsonreuters.com)

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