Loading…
Loading…
Kering has shown notable improvement in sales contraction and margin outlook despite ongoing luxury market headwinds, indicating market overreaction to its latest update. However, risks persist for the company, as it's yet to see sales growth, and macro factors could affect key markets like Asia Pacific and North America. The stock's high P/E ratio compared with peers also works against it, though some signs of a turnaround indicate that its time to put Kering on the investing watchlist.
Kering SA remains neutral-rated, as China's macro weakness and Gucci's underperformance offset solid ex-Gucci brand growth. Ex-Gucci brands, notably Saint Laurent and Bottega Veneta, delivered +2% retail growth, while jewelry and eyewear posted strong comps. Gucci's retail comps fell 9% y/y, with significant price cuts in China highlighting ongoing demand challenges and destocking needs.
Stocks for some of Europe's most famous luxury brands are plummeting to their lowest level in years as Chinese customers cut back purchases and an industry revamp fails to launch.
The French luxury-fashion house's sales fell on a 6% drop at Gucci that makes up not far from half of the group's revenue.
Shares in French luxury giant Kering plunge to their lowest level in more than a year, after the firm reported a 6% sales decline at its flagship Gucci brand in Q3. CNBC's Charlotte Reed reports.
Kering shares drop 11% as Gucci sales slide
Kering SA (PPRUY) Q3 2026 Sales/Trading Call Transcript
The owner of Gucci, Bottega Veneta and other high-end labels booked a 1% decrease in revenue as the luxury market continues to see a sharp drop in demand.
No recent filings indexed.