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Shares of luxury goods maker



were down after the company said pre-Christmas sales have been soft and lowered its full-year EPS guidance for the second time.

Recently, shares of the company were down nearly 1%, or 88 cents, to $89.72 on the

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New York Stock Exchange


Amsterdam-based Gucci said it now expects to earn 2.02 euros a share for 2003, down from its previously revised figure of 2.60 euros a share. The company said the travel, tourism and luxury goods industries have been affected by weak demand and fears of terrorism.

The company expects revenue in a range of 2.5 billion to 2.6 billion euros. Gucci had originally expected to earn 2.6 billion euros.

The company said revenue increased in November, but at a slower pace than October's 10% increase. Last year, the fourth-quarter accounted for 28% of the company's full-year revenue.

Gucci will release its third-quarter results on Dec. 19.