Kering slides as JPM says CMD targets suggest longer recovery path

Kering SA

16/04/2026 08:54

** Shares in Kering PRTP.PA slide 2%, to the bottom of France's CAC 40 .FCHI index, as its Capital Markets Day targets suggest a longer and more demanding turnaround than expected, as per J.P. Morgan

** The release remains light on near-term quantified guidance, as the French luxury goods group doesn't mention any revenue or margin targets for 2026 and 2027, JPM says

** The three-phase sequencing "suggests, in our view, that the turnaround will take considerably longer, back end loaded, and require significantly more heavy lifting, than the bulls would hope for," the broker adds

** "Our business has become structurally unbalanced," de Meo said in the CMD presentation call

** Including Thursday's fall, the stock has dropped by 18.22% YTD

 (Reporting by Olivier Cherfan)

 ((olivier.cherfan@thomsonreuters.com))