French luxury-goods maker Kering SA reported first-quarter revenue that trailed analysts’ estimates as slowing tourism flows weighed on demand in Europe. Sales climbed 2.7 percent to 2.72 billion euros ($3.07 billion), Paris-based Kering said in a statement after European markets closed Thursday.

Swiss watch exports posted the biggest quarterly drop since 2009 as the industry faces declining demand across all its main markets.

Source: Bloomberg

(Source: Bloomberg)