Gucci Q1 Revenue Falls 14.3% to 1.35B Euros; LVMH Down 6%

Gucci reported Q1 revenue of 1.35 billion euros, down 14.3% year-over-year. LVMH declined 6% to 19.1 billion euros in Q1 revenues. Western European and Chinese weakness, alongside Middle East tensions, drove luxury sector softness.