A weak underlying business, store closure costs and accounting changes spell difficulty for the retailer.
The Bank of England kept interest rates unchanged at 0.5 percent.
Kering took a 51 percent stake in the brand in 2013; Kane created the brand in 2006.
The corporation is also seeking to buy back licenses in international regions.
Andrew Wu, LVMH Greater China Group President, on the immense potential China still offers.
This is the company’s third profit warning this year.
Experts expect the fashion industry to delve more into deals like Macy’s investments in B8ta and Story.
The transaction is expected to close in the second half.