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flag Kering, owner of Gucci, reports a significant sales drop, leading to cost cuts and share decline.

flag Kering, the luxury goods company owning Gucci, reported a 14% drop in first-quarter sales, with Gucci sales down 25%. flag This underperformance in key markets like Asia, North America, and Europe has led to a decline in the company's shares and plans for cost-cutting measures, including job cuts and store closures. flag The luxury sector faces further challenges amid reduced demand for high-end goods.

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