Paris - Delayed Quote EUR

Kering SA (KER.PA)

326.15

-24.05

(-6.87%)

At close: April 24 at 5:35 PM GMT+2

Gucci's Hangover Saps Kering's Stock

Kering said late Tuesday that it expects a decline of up to 45% in first-half recurring operating income from a year earlier. Gucci is grappling with the lingering hangover from Kering jettisoning of Alessandro Michele, the star creative director whose trend-making designs fueled sales for years. Since Michele's departure, the brand is straining to find its footing under his replacement, Sabato de Sarno.

The Wall Street Journal 9 hours ago

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European Equities Close Lower in Wednesday Trading; Kering Shares Drop After Q1 Results 'Worsened Considerably'

European Equities Close Lower in Wednesday Trading; Kering Shares Drop After Q1 Results 'Worsened Considerably'

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MT Newswires 9 hours ago

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FOCUS-Tuscany's luxury suppliers feel chill from China and changing trends

Waning Chinese demand for luxury goods has compounded the problems of Tuscany's traditional leather companies as the big fashion houses they supply reshape their strategies, leading to painful layoffs that could be just the start. LVMH, the world's largest luxury group, last week reported Asia revenues fell 6% in the first quarter. Many of the biggest luxury groups, which like Gucci base their leather goods production in Tuscany, had increased orders to respond to the post-pandemic boom.

Reuters 15 hours ago

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Kering Shares Drop After Gucci Slump Prompts Profit Warning

(Bloomberg) -- Kering SA shares tumbled after the luxury group warned that profit will plunge in the first half of the year on slumping sales at Gucci, its biggest brand. Most Read from BloombergTaylor Swift Is Proof That How We Critique Music Is BrokenBiden’s Gains Against Trump Vanish on Deep Economic Pessimism, Poll ShowsBiden’s New Chopper Is Demoted After Scorching White House LawnTesla Soars as Musk’s Cheaper EVs Calm Fears Over StrategyThe stock slid as much as 10% in Paris trading to a s

Bloomberg 16 hours ago

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Kering shares slump after the Gucci owner warns of H1 operating profit drop

Kering's shares slumped on Wednesday, after the French luxury goods company warned it expected a 40% to 45% plunge in first-half operating profit. Kering shares were down 8.5 percent in early session trading, dragging down slightly the shares of its French rivals LVMH and Hermes. Late on Tuesday, Kering warned of the likely drop in first-half operating profit as it also reported that first-quarter sales had declined as wealthy shoppers curbed spending on products from its star label Gucci.

Reuters 18 hours ago

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Kering Forecasts 40-45% Drop in H1 Operating Profit as Gucci Sales Tumble

The French luxury group said overall revenues fell 11 percent in the first quarter.

WWD yesterday

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UPDATE 3-Kering warns H1 operating profit to tumble as Gucci sales fall

French luxury group Kering expects a 40% to 45% plunge in first-half operating profit, it said on Tuesday, after first-quarter sales declined as wealthy shoppers curbed spending on products from its star label Gucci. Kering had warned on March 19 that sales over the period were likely to drop by around 10%, dashing hopes it had stemmed sales declines at Gucci, the century-old Italian fashion house which accounts for half of group sales and two-thirds of profit. The warning prompted concern in the luxury sector about prospects for China's rebound - traditionally Gucci's most coveted market - which has been clouded by a property crisis and high youth unemployment.

Reuters yesterday

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Kering warns H1 operating profit to tumble as Gucci sales fall

PARIS (Reuters) -French luxury group Kering expects a 40% to 45% plunge in first-half operating profit, it said on Tuesday, after first-quarter sales declined as wealthy shoppers curbed spending on products from its star label Gucci. Kering had warned on March 19 that sales over the period were likely to drop by around 10%, dashing hopes it had stemmed sales declines at Gucci, the century-old Italian fashion house which accounts for half of group sales and two-thirds of profit. The warning prompted concern in the luxury sector about prospects for China's rebound - traditionally Gucci's most coveted market - which has been clouded by a property crisis and high youth unemployment.

Reuters yesterday

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Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand

French luxury group Kering reported a 10% drop in first-quarter sales on Tuesday, dragged down by a slowdown at its star label Gucci, which suffered from weakness in Asia while undergoing a design overhaul. Sales for the three months ending in March stood at 4.5 billion euros ($4.82 billion), down 10% on a comparable basis. Kering had warned on March 19 that sales over the period were likely to drop by around 10%, dashing hopes it had stemmed sales declines at Gucci, the century-old Italian fashion house which accounts for half of group sales and two-thirds of profit.

Reuters yesterday

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Kering: Press release - First-quarter 2024 revenue

Kering - Press release - First-quarter 2024 revenue PRESS RELEASE April 23, 2024 FIRST-QUARTER 2024 REVENUE Group first-quarter revenue: €4,504 million,down 11% as reported and down 10% on a comparable basis “Kering’s performance worsened considerably in the first quarter. While we had anticipated a challenging start to the year, sluggish market conditions, notably in China, and the strategic repositioning of certain of our Houses, starting with Gucci, exacerbated downward pressures on our topli

GlobeNewswire yesterday

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Valentino Reports Decline in 2023 Sales, Profitability

CEO Jacopo Venturini said that “it's important to note that despite this, we, as a company, maintained our positioning and awareness."

WWD yesterday

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Kering: Monthly statement on the total number of shares and voting rights (April 2024)

Kering - Statement Number of Shares and voting rights - 15.04.2024 KeringSociété anonyme with a share capital of €493,683,112Head office: 40, rue de Sèvres – 75007 PARIS552 075 020 RCS PARIS April 16, 2024 Monthly statementon the total number of shares and voting rights(articles L.233-8 of the French Commercial Code and 223-16 of the General Regulation of the French Financial Markets Authority (AMF – Autorité des Marchés Financiers) Date Total number ofshares Total number of voting rights theore

GlobeNewswire 8 days ago

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Donna Langley Wins Kering’s 2024 Women in Motion Prize

As chairman of NBCUniversal Studio Group, Langley is "proving that inclusive casting, hiring and storytelling is smart business."

WWD 8 days ago

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Kering: Information regarding the arrangements for taking part in the Combined General Meeting of April 25, 2024 and conditions for obtaining or consulting the documents prepared for the meeting

Kering - Press release - Arrangements AGM April 25, 2024 - EN PRESS RELEASE April 15, 2024 INFORMATION REGARDING THE ARRANGEMENTS FOR TAKING PART IN THE COMBINED GENERAL MEETING OF APRIL 25, 2024 AND CONDITIONS FOR OBTAINING OR CONSULTINGTHE DOCUMENTS PREPARED FOR THE MEETING Kering shareholders are invited to attend the Company’s Combined General Meeting to be held at 3 p.m. on Thursday, April 25, 2024 (Paris time) at Kering’s headquarters – 40 rue de Sèvres, 75007 Paris, France. The General Me

GlobeNewswire 9 days ago

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Kering picks luxury veteran Cantino as Gucci deputy CEO

French luxury group Kering on Thursday named former Louis Vuitton and Prada communications executive Stefano Cantino as deputy CEO of Gucci to help steer a revival of the Italian label. Cantino, who will start on May 2, will report to Jean-François Palus, Gucci's President and CEO, the statement said. "In this newly created position, Stefano Cantino will share with Jean-François Palus the responsibility to define and implement the brand strategy," it said.

Reuters 13 days ago

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EXCLUSIVE: Gucci Adds a Communications Guru as Deputy CEO

Stefano Cantino, a veteran of Louis Vuitton and Prada, is set to work beside Jean-François Palus and Francesca Bellettini to help wake up Kering's stalled flagship brand.

WWD 13 days ago

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China uncertainty clouds outlook for luxury sector

Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand and comparisons with last year when the lifting of COVID curbs in mainland China boosted sales. LVMH, the world's biggest luxury group, is first to report on April 16, followed by rivals Kering, Prada and Hermes a week later. Burberry and Richemont follow in May.

Reuters 15 days ago

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What Are China’s Latest Fashion Trends? Urban Renewal and Cultural Revival

Fashion weeks in Shanghai and Beijing were held amid hope that the Chinese economy is back on the path of sustained growth.

WWD 17 days ago

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Shuffle Board: Kering Grows Exec Committee, Material Exchange Names VP

Kering’s CFO and CSO join the executive committee while Wilson Avalos is named Material Exchange's vice president of apparel and sourcing.

Sourcing Journal 19 days ago

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Gucci-owner Kering’s Gen Z heir claims his grandfather Francois Pinault’s seat on Christie’s board in major succession move

The 26-year-old Francois Louis Nicolas Pinault, who is Kering CEO Francois-Henri's son, works as a “product marketing manager,” according to filings.

Fortune 19 days ago

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Performance Overview

Return	KER.PA	CAC 40
YTD	-17.24%	+7.27%
1-Year	-41.92%	+6.80%
3-Year	-46.25%	+29.31%

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Kering SA (KER.PA)

Gucci's Hangover Saps Kering's Stock

European Equities Close Lower in Wednesday Trading; Kering Shares Drop After Q1 Results 'Worsened Considerably'

FOCUS-Tuscany's luxury suppliers feel chill from China and changing trends

Kering Shares Drop After Gucci Slump Prompts Profit Warning

Kering shares slump after the Gucci owner warns of H1 operating profit drop

Kering Forecasts 40-45% Drop in H1 Operating Profit as Gucci Sales Tumble

UPDATE 3-Kering warns H1 operating profit to tumble as Gucci sales fall

Kering warns H1 operating profit to tumble as Gucci sales fall

Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand

Kering: Press release - First-quarter 2024 revenue

Valentino Reports Decline in 2023 Sales, Profitability

Kering: Monthly statement on the total number of shares and voting rights (April 2024)

Donna Langley Wins Kering’s 2024 Women in Motion Prize

Kering: Information regarding the arrangements for taking part in the Combined General Meeting of April 25, 2024 and conditions for obtaining or consulting the documents prepared for the meeting

Kering picks luxury veteran Cantino as Gucci deputy CEO

EXCLUSIVE: Gucci Adds a Communications Guru as Deputy CEO

China uncertainty clouds outlook for luxury sector

What Are China’s Latest Fashion Trends? Urban Renewal and Cultural Revival

Shuffle Board: Kering Grows Exec Committee, Material Exchange Names VP

Gucci-owner Kering’s Gen Z heir claims his grandfather Francois Pinault’s seat on Christie’s board in major succession move

Performance Overview