Kering stock slumps 6% after Gucci sales drop, Iran war weighs on earnings

Gucci's organic sales fell by 8%, a bigger drop than the 6% decline seen in a sell-side consensus cited by analysts.  Kering's first-quarter revenue came in at 3.57 billion euros, down 6% year-on-year on a reported basis, and flat on a comparable basis at constant exchange rates.