Kering reports Q1 sales decline as Gucci weighs on performance [Yahoo! Finance]
KERING SA UNSP/ADR (PPRUY)
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Source: Yahoo! Finance
The group posted revenue of €3.56bn ($4.19bn) for the period, down 6% on a reported basis but flat on a comparable basis versus the same quarter last year. Performance was notably impacted by Gucci, within the fashion and leather goods segment, where revenue reached €1.34bn, representing a decline of 14% as reported and 8% on a comparable basis. Overall, the fashion and leather goods division generated €2.85bn in revenue, decreasing 9% on a reported basis and 3% on a comparable basis, indicating sequential improvement during the quarter. Kering CEO Luca de Meo said: “In the first quarter of 2026, group revenue stabilised, marking an important first step in our recovery and a further sequential improvement. This performance reflects the first tangible effects of our actions, despite a challenging geopolitical environment. “Gucci remains our top priority. A comprehensive turnaround is underway, with decisive actions across client, distribution and, above all, the offer.” Sale
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