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Global luxury group Kering ran into headwinds during the fourth quarter.The group recorded a year-over-year decline in sales of 7% on a comparable basis during the quarter ended Dec. 31. Gucci, which accounts for half its revenue, was down 14%. Yves Saint Laurent was up 4% and Bottega Veneta was up 6%, while and its other houses 鈥?including Balenciaga, Alexander McQueen and Brioni 鈥?were down 4%, according to a Wednesday Feb. 15 press release.For the full year of 2022, however, Kerings group revenue was up 9% on a comparable basis. All our houses posted record revenues and contributed to higher operating income in 2022, Kering Chairman and CEO Fran莽ois-Henri Pinault said in the release. But these good performances were not uniformly up to our ambitions and potential. The groups fourth-quarter trends contrasted with those of two of its rivals. LVMH reported in January that it was confident it can maintain the record revenue it saw in 2022, while Hermes said in October that it has seen no slowdown in any of its markets and was going to raise prices.Kering attributed its slowdown 鈥?and especially that of Gucci 鈥?to the COVID-related restrictions that were still in place in China during the quarter.M
stanley thermos edia have reported other troubles for the company as well. The Financial Times noted that Gucci is having a leade
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stanley usa reative director left abruptly in November, while the Wall Street Journal pointed to controversy around Balenciaga ads that included childre Cynz India SME Lender Capital Float Tops Up Funding
Facebook tries out third-party Marketplace deals from eBay, an automated news aggregator, and veteran executive Andrew Bosworth in the leading role of its new consumer har
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stanley kubek in light of sinking stock prices, Forbes says long-term investors should be very optimistic, and Seeking Alpha sees enormous potential for Asia-Pacific growth.Facebook Does Deal With eBayFacebook has teamed up with eBay to introduce Daily Deals within the Marketplace section of its mobile app. What began as a user-driven, community-based virtual swap shop has grown into a more centralized buy and sell locale that the platform is really pushing. Notice that big Marketplace button on the mobile app homepage Marketplaces will continue to connect buyers with sellers in their vicinity, but now with the added opportunity to get a great deal on a third-party offering. Users can shop in the Facebook app, but they are redirected to eBay for checkout if they choose to make a purchase. The social media giant says it is testing the feature with hopes of rolling it out fully in the future, maybe with deals from other third parties too.It Was The Best Of Stocks; It Was
gourde stanley The Worst Of StocksFacebook stock traded at an all-time high $175.50 after the companys Q2 earnings call July 26, but four weeks later, it dipped to nearly a historic low $167.74 at market close on Friday . Forbes, however, has done the math and finds the numbers attractive, predicting that growth could catapult shares t
