This is a Kering news story, published by CNBC, that relates primarily to François-Henri Pinault news.
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quarter Gucci salesCNBC
•Entertainment
Entertainment
78% Informative
Shares of French luxury group Kering sank more than 9% at open on Wednesday .
The company warned that it expects a sharp downturn in first-half profits as a result of waning demand for its Gucci brand.
Chairman and CEO François-Henri Pinault said the warning comes after the company's performance "worsened considerably" in the first quarter .
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