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
Importance
Level 1
- 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.