Kering (KER FP) Q1 26 (EUR): Revenue 3.57bln (exp. 3.56bln). Gucci revenue 1.35bln (exp. 1.37bln). Objective remains to return to growth and improve margins

Newsquawk StaffPublished 14 Apr 2026, 15:56 UTC

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Kering (KER FP) Q1 26 (EUR): Revenue 3.57bln (exp. 3.56bln). Gucci revenue 1.35bln (exp. 1.37bln). Objective remains to return to growth and improve margins

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Retail revenue in Middle -11%, which took away 1% of overall growth in Q1.
Gucci comp rev -8% (exp. -4.28%).
Gucci saw improvement in China, but still negative.
Gucci is grappling with weak market and home-made problems in China.
Gucci accelerated in the US.
Balenciaga saw growth.

Context

Kering's Q1 results show a slight beat in overall revenue expectations but highlight significant challenges, particularly with Gucci, which underperformed against expectations. The negative comp revenue for Gucci in key markets like China suggests ongoing struggles in revitalizing its growth strategy. Investors should note that while Balenciaga is performing well, the overall narrative points to a need for Kering to signal improved margins and growth objectives to regain market confidence.

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