Luxury group Kering said its return to growth will take time after its embattled star label Gucci posted another quarter of weak sales and has yet to name a new chief designer to galvanise the Italian brand.

Luxury group Kering’s fourth quarter sales were hit by a continued slump at its main brand Gucci, it said on Tuesday, but a slight improvement in the group’s performance in major markets China and the United States buoyed investors.

Kering’s revenue fell by less than analysts expected in the fourth quarter as the Gucci owner seeks to reinvigorate a turnaround plan for its core brand. Some luxury groups have pointed to signs of a rebound in demand,