Kering SA

Kering SA engages in the design, manufacture, marketing, and retail of luxury apparel and accessories. The firm offers apparel, leather goods, shoes, watches, jewelry, perfumes and cosmetics products. It operates through the following segments: Gucci, Yves Saint Laurent, Bottega Veneta, Other Houses, and Kering Eyewear and Corporate. The company was founded in 1963 and is headquartered in Paris, France.

Kering's shares slumped on Wednesday, after the French luxury goods company warned it expected a 40% to 45% plunge in first-half operating profit.

Kering shares slump after luxury company warns of H1 operating profit drop

Gucci and Yves Saint Laurent owner Kering issued a profit warning after its performance “worsened considerably” in the first quarter, blaming sluggish Chinese demand and restructuring at its fashion houses. Revenue for the France-based group for the first quarter of 2024 fell 11% to €4.5 billion, with sales at Gucci down 21% “In view of this revenue decline, together with our firm determination to continue investing selectively in the long-term appeal and distinctiveness of our brands, we now expect to deliver sharply lower operating profit in the first half of this year,” said chairman and chief executive officer François-Henri Pinault.

Kering issues profit warning as Gucci sales plunge

Shares of French luxury group Kering sunk more than 9% Wednesday after the company warned that it expects a sharp downturn in first-half profits as demand for its Gucci brand continues to wane.

Kering shares sink 9% after profit warning on declining Gucci sales

Shares in French luxury group Kering fell by as much as 9.3% in early trade on Wednesday, to their lowest level in over 6 years, as the market digested news of a likely 40%-45% plunge in first-half operating profit.

Kering's shares dive 9% as Gucci falters

French luxury group Kering has a healthy balance sheet that would allow for "incremental" mergers and acquisitions, Chief Financial Officer Armelle Poulou told analysts on Tuesday.

Kering could pursue 'incremental M&A', says CFO

French conglomerate Kering—owner of Gucci, Yves Saint Laurent, Bottega Veneta and other luxury brands—reported on Tuesday a 10% drop in first-quarter sales, as its star label Gucci faces slowdown in China and undergoes a leadership overhaul.

Gucci Sales Drop 18% In Q1 Amid China's Slowdown And Demand For ‘Quiet Luxury'

French luxury group Kering reported a 10% drop in first-quarter sales on Tuesday, dragged down by a slowdown at its star label Gucci, which suffered from weakness in Asia while undergoing a design overhaul.

Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand

Kering - Press release - First-quarter 2024 revenue

Kering: Press release - First-quarter 2024 revenue

Kering - Press release - Arrangements AGM April 25, 2024 - EN

Kering: Information regarding the arrangements for taking part in the Combined General Meeting of April 25, 2024 and conditions for obtaining or consulting the documents prepared for the meeting

Gucci has slotted in another piece of its turnaround plan with the appointment of veteran communication executive Stefano Cantino as deputy chief executive after luring him away from Louis Vitton. Previously with Prada, Cantino is credited with raising the profit of Vitton with a series of A-lister events and museum-style exhibitions.

Kering brings in PR veteran to help Gucci turnaround

Gucci's owner Kering has purchased a retail block in Milan for €1.3 billion, marking Europe's largest property sale since 2022. Via Monte Napoleone 8    Source: Kryalos Via Monte Napoleone 8, which was sold by Blackstone, houses sites for designer brands such as Prada and Saint Laurent.

Gucci owner Kering in Europe's biggest property purchase since 2022

Gucci owner Kering is buying a historic building in Milan's fashion district for roughly $1.4 billion, expanding its presence in one of the world's most iconic avenues.

Kering Buys Historic Property in Milan Fashion District

Kering is buying a historic building in Milan's fashion district for roughly 1.3 billion euros ($1.41 billion), expanding its presence in one of the world's most iconic avenues.

Gucci owner Kering buys property in Milan fashion district for $1.4 billion

Press release_Acquisition of an iconic building via Monte Napoleone_04 04 24_EN

Kering : Acquisition of an iconic building via Monte Napoleone, in Milan

Press release_Appointment Executive Committee 02 04 24

MÉLANIE FLOUQUET AND ARMELLE POULOU APPOINTED MEMBERS OF KERING'S EXECUTIVE COMMITTEE

LVMH Moet Hennessy Louis Vuitton

The French luxury conglomerate Kering, number two in the global luxury market, just issued a rare warning that first-quarter revenues are expected to decline 10% from last year's $5.5 billion (€5.1 billion) and projects its flagship brand Gucci to be off nearly 20%, down from $2.8 billion (€2.6 billion).

While Kering's Gucci Warns Of 20% Decline, LVMH Sees Growth In Luxury

Kering, a French luxury company, offers a significant upside of 40-50% and has a dividend yield of 3.5%+. Kering owns six luxury brands, including Gucci, which represents over 50% of the company's revenues and over 70% of earnings. The company's valuation is attractive, trading close to a P/E of 15, and has an annualized upside of at least 15-20% per year.

Kering: A 'Buy' Rating After The Dip

Gucci parent Kering could be due a “big brand reset” following Wednesday's profit warning on the back of waning demand for its leading brand, analysts have said. Paris-based Kering warned like-for-like sales could drop by as much as 10% in an update earlier this week, with the figure falling by 20% among Gucci products.

Gucci parent Kering may need ‘big brand reset' - analysts

Kering forecast group sales would decline by about 10% for the first three months of the year, significantly worse than consensus expectations for 3% drop.

Gucci parent Kering's shares plunge 15% as sales in Asia nosedive

Are Gucci's waning sales a product of a falling global appetite for luxury items, or internal issues at parent company Kering? Kering's sales in the first quarter are expected to fall by 10% year-on-year, with revenues from Gucci, which accounts for two-thirds of operating income, set to drop by 20%.

Gucci parent Kering has faces external and internal headwinds

Shares in European luxury stocks fell after Kering warned of weaker first-quarter revenue due to a steep sales drop at Gucci, raising concerns about demand in Asia-Pacific.

Luxury Stocks Hit by Kering Warning

Luxury fashion house Kering has said it expects a slowdown in Asia will see sales from its top brand Gucci drop 20% in the first quarter of 2024, in a rare profit warning that caused its share price to crash 15% on Wednesday morning.

Kering stock dives as Gucci sales forecast to skid by 20%

Gucci owner Kering has issued a profit warning as it experienced a slowdown in sales. It makes it one of the only leading companies in the sector to have suffered a profit downgrade because of the difficult market conditions.

Gucci owner sacres luxury industry with profit warning

French luxury group Kering warned Tuesday that Gucci sales look set to fall 20% in the first quarter as declining Asia sales continue to weigh on the fashion brand.

Gucci sales to plunge 20% in first quarter as Kering issues rare luxury profit warning

Kering's shares slumped on Wednesday after the French luxury goods company warned that first quarter sales at its star label Gucci would drop by around 20% due to weakness in Asia.

News for Kering SA Stock (PPRUY)