Kering warns on sluggish Gucci sales 🚩Luxury sector in trouble?

French fashion holding company Kering (KER.FR) reported that operating profit fell nearly 50% year over year in the third quarter, as weak demand in China materially weighed on final financial results. In addition to Gucci, the group owns brands such as Bottega Veneta, Balenciaga and Yves Saint-Laurent. Organic sales across the group fell 16% year over year to €3.79 billion, against analysts' estimates of 11%. Operating profit for the full year 2024 is expected to be €2.5 billion, according to the group, compared to $4.75 billion in 2023.

Sales at the Gucci brand fell 25% year-on-year, against a 21% decline expected by the market. The Gucci brand accounts for two-thirds of the group's operating profits and nearly half of sales. Next year, the company will change its CEO from longtime manager Jean-Francois Palus, to Stefano Cantino. Kering's owner Pinault indicated that the group is going through a difficult phase of transition. In the wake of Kering's announcement, we can expect weaker sentiment in the fashion sector, at tomorrow's opening of markets in Europe, where volatility may be recorded in LVMH (MC.FR) shares, among others.

Source: xStation5

5 May 2026, 7:20 PM

Daily Summary: Wall Street Hits New Records as Oil Prices Cool

5 May 2026, 5:49 PM

💯Meme Stock 2.0? GameStop Wants to Buy eBay While Michael Burry Jumps Ship

5 May 2026, 3:48 PM

US OPEN: Wall Street reaches new heights on Intel-Apple optimism

5 May 2026, 3:44 PM

Unexpected beneficiaries of the AI boom: Caterpillar

Stocks

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days