MILAN — A slowdown at the core Gucci division and higher losses at Yves Saint Laurent were the main reasons for a 14.4 percent drop in Gucci Group’s net profits in the third quarter ended Oct. 31.

And with a possible war in Iraq inching closer, Domenico De Sole, Gucci president and chief executive, said predicting the future is even harder, although the group is sticking with its long-term strategy.

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