Kering seen down as Q3 Gucci sales slide further

By Reuters News06:53 (UTC), 23 October 2026 Updated

** Shares in Kering PRTP.PA are seen down between 4% and 8% as its crown jewel Gucci's Q3 sales keep sliding

** Q3 group sales drop 1% y/y on comparable basis to €3.35 billion ($3.76 billion), with Gucci down 6% y/y to €1.29 billion

** J.P. Morgan says Gucci's performance was affected by the broader environment, fewer new product launches in the quarter and tougher comparables

** "With Gucci's step back in the quarter, little evidence so far that the accelerating newness is driving an inflection for now," JPM says

** "Progress is being made... But broader demand has worsened in Q3," says Jefferies

** As of Thursday's close, Kering's shares lost 28% YTD; Kering's ADRs closed down 12.2%

($1 = 0.8919 euros)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.