Kering's third-quarter report shows worsening trends, with revenues down 15% Y/Y and broad-based deceleration across key brands. Kering struggles with direct-to-consumer channels, unlike peers, and faces sharp declines in Japan and Asia Pacific, despite potential China stimulus. The luxury sector faces fatigue and macroeconomic challenges; Kering lacks iconic, time-transcendent products to driv...
Gucci, a legacy luxury brand and top-money maker for French luxury-group owner Kering, has become a monster-sized headache for the group and drag on performance as brand revenues plunged 22% through the first nine months this year.
Gucci-owner Kering SA (EPA:KER) has made a substantial cut to its full-year income forecasts following a disappointing third quarter. Gucci's year-on-year revenue plummeted 26% in the quarter, driven predominantly by persistently soft China demand.
Gucci had a challenging third quarter partly due to its APAC slump, per Kering's latest earnings call. The Italian luxury brand's sales dropped 25% this quarter compared to the previous year.
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