Kering seen down as Q3 Gucci sales slide further

Kering SA

23/10/2026 07:53

** Shares in Kering PRTP.PA are seen down between 4% and 8% as its crown jewel Gucci's Q3 sales keep sliding
** Q3 group sales drop 1% y/y on comparable basis to €3.35 billion ($3.76 billion), with Gucci down 6% y/y to €1.29 billion
** J.P. Morgan says Gucci's performance was affected by the broader environment, fewer new product launches in the quarter and tougher comparables
** "With Gucci's step back in the quarter, little evidence so far that the accelerating newness is driving an inflection for now," JPM says
** "Progress is being made... But broader demand has worsened in Q3," says Jefferies
** As of Thursday's close, Kering's shares lost 28% YTD; Kering's ADRs closed down 12.2% 
($1 = 0.8919 euros)

(Reporting by Gianluca Lo Nostro)
((gianluca.lonostro@thomsonreuters.com;))