France's Kering Q1 revenue falls amid decline in Gucci sales

Kering SA

14/04/2026 16:45

Overview

France luxury goods group's Q1 2026 revenue down 6% as reported, stable on comparable basis

Jewelry and eyewear segments delivered strong yr/yr growth, offsetting Gucci's sales decline

Outlook

Kering aims to return to growth and improve margins as 2026 progresses

Company says it will detail its strategic roadmap at Capital Markets Day on April 16

Kering highlights an uncertain geopolitical and macroeconomic environment

Result Drivers

JEWELRY GROWTH - Kering Jewelry delivered record sales, up 22% on a comparable basis, with strong demand in Japan and Asia-Pacific and standout growth at Boucheron

EYEWEAR DEMAND - Kering Eyewear achieved its highest quarterly sales, up 7% on a comparable basis, supported by new product launches and marketing campaigns

GUCCI SALES DECLINE - Gucci revenue fell 8% on a comparable basis, with declines in Asia-Pacific and Western Europe partly offset by growth in North America; turnaround actions are underway

Company press release: ID:nGNEbxmQSB

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 3.57 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 16 "hold" and 6 "sell" or "strong sell"

The average consensus recommendation for the apparel & accessories retailers peer group is "buy."

Wall Street's median 12-month price target for Kering SA is €290.00, about 6.6% above its April 13 closing price of €272.05

The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 36 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)