Gucci growth slows on virus restrictions

Bearish period: Shoppers pass a Gucci store in Shanghai. Sales at the Italian brand rose 3.8% in the third quarter from a year earlier. — Bloomberg

NEW YORK: Gucci’s sales growth slowed in the third quarter after the coronavirus resurged in parts of Asia, putting more pressure on the label’s new collection to deliver a strong holiday season.

Comparable sales at the Italian brand rose 3.8% from a year earlier, owner Kering SA said in a statement.