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Gucci's first-quarter comparable sales up 0.3 percent


    PARIS (Reuters) - Gucci's sales growth remained sluggish in the first three months of the year, hit in part by the brand's upmarket repositioning and the lost sales resulting from the clean-up of its wholesale distribution network.

    The Italian brand, which represents the bulk of valuation for parent Kering , on Thursday posted a 0.3 percent rise in like-for-like sales for the first quarter, broadly in line with analysts' expectations.

    (Reporting by Astrid Wendlandt; Editing by Andrew Callus)