February 12, 2020 / 6:46 AM / 6 months ago

Gucci owner Kering flags China virus uncertainties after strong Q4

PARIS, Feb 12 (Reuters) - Kering on Wednesday said the coronavirus health scare in China could heighten uncertainties for the luxury goods market, as the Gucci owner posted higher-than-expected sales for the fourth quarter of 2019.

Kering’s revenues rose 13.8% to 4.36 billion euros ($4.76 billion) in the October to December period, up 11.4% on a like-for-like basis, which strips out currency changes and acquisitions.

Analysts had expected like-for-like sales to grow closer to 10.9%, according a consensus forecast cited by Bank of America.

The group said the coronavirus epidemic, which has particularly affected its key Chinese market, could have an impact on “consumption trends and tourism flows, and their ability to affect economic growth.” ($1 = 0.9166 euros) (Reporting by Silvia Aloisi, Editing by Sarah White)

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