Kering shares fall as Gucci sales drop more than feared

Kering SA

15/04/2026 08:37

** Shares in Kering PRTP.PA fall 8.8%, on track for their worst day in more than a year, after Gucci’s Q1 sales fell more than feared

** The French luxury goods group reported flat Q1 comparable sales year-on-year at 3.57 billion euros ($4.21 billion), with those of Gucci dropping 8%

** "Sales broadly in-line with consensus with Gucci slightly missing organic growth expectations – delivering -8% versus consensus of -6%," Berenberg says in a note

** J.P. Morgan also notes sales were broadly in line, albeit with a different mix than expected, and flags a "slow progress" at Gucci; it says all eyes are now turning towards Kering's CMD to be held on Thursday

** The Kering stock is the second worst performer on France's CAC40 .FCHI and SBF120 .SBF120 indices, and also among worst performers on Europe's benchmark Stoxx 600 .STOXX

($1 = 0.8485 euros)

(Reporting by Clement Martinot)

((Clement.Martinot@thomsonreuters.com;))