Kering Stock News

LVMH, Hermès, and Kering shares have fallen sharply, but slowing sales growth could keep pressure on the luxury sector.

Italy remains central to Kering's ‌plans, with the French luxury group having no intention of moving production out of the country, Chief Executive Luca de Meo ​said on Wednesday.

The stock was up 11% a after the company's flagship label reported sales down 2% organically on year—beating the 5% drop expected by analysts.

Shares in Kering were poised to rise 10% on Wednesday, after quarterly sales at the luxury group's flagship brand Gucci beat market expectations thanks ​to strong U.S. demand for its new handbags.

The French luxury group logged higher revenue of $4.15 billion in its latest quarter, even as Gucci's revenue fell 3%.

Sales at Kering's flagship brand Gucci fell 2% in the second quarter ​from a year earlier, the luxury group said ‌on Tuesday, beating expectations for a bigger drop as U.S. demand for its new handbags offset weaker spending elsewhere.

The CAC 40 Index has moved sideways in the past few weeks. It has slipped from this month's high of 8,561 to the current 8,337.