Kering slightly beats fourth-quarter forecasts but sales at embattled Gucci brand plunge 24%
French luxury goods firm Kering on Tuesday reported better-than-expected fourth-quarter sales that were nevertheless down year-on-year amid lagging demand for its main Gucci label. The luxury fashion group posted a 12% decline in fourth-quarter revenues to 4.39 billion euros ($4.52 billion), just slightly ahead of the 4.29 billion euros forecast.
Gucci sales slump continues as Kering seeks new designer
French luxury group Kering reported a 12% drop in fourth quarter sales on Tuesday, dragged lower by its Italian brand Gucci, but flagged a slight improvement in major markets China and the United States.
3 Reasons Why Kering Can Outperform Following 2024 Collapse
Kering's stock is on one of its worst runs since 1994. The cost of living crisis is the main headwind facing the company, which should be cyclical. The company's booming business in Japan, which was triggered by a currency devaluation, indicates customers still crave the company's brands.
Kering's Gucci brand ends collaboration with designer Sabato De Sarno
Gucci-owner Kering on Thursday announced it would end its work with creative director Sabato de Sarno at its Italian flagship label, the latest high-profile designer change as the luxury industry grapples with a slowdown.
Kering: The End Of The Meltdown May Be Near
Kering's stock has plummeted 72% since August 2021, driven by macroeconomic issues in China and Europe and high CapEx investments. Despite current struggles, PPRUF's investments in Valentino and Creed aim to reduce dependence on Gucci and foster long-term growth. The Chinese real estate crisis is a significant concern, but government stimulus and long-term economic recovery are expected to benefit the Company.
FL or PPRUY: Which Is the Better Value Stock Right Now?
Investors looking for stocks in the Retail - Apparel and Shoes sector might want to consider either Foot Locker (FL) or Kering SA (PPRUY). But which of these two stocks offers value investors a better bang for their buck right now?
Kering: A Falling Knife If I've Ever Seen One
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 drive a turnaround.
Gucci Has Problems. The Biggest May Be a Safe New Look
The Italian brand's owner, Kering, issued its third profit warning in a row as demand for a toned-down Gucci disappoint.
Gucci-owner Kering makes drastic cut to full-year forecasts
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.
Things aren't looking great at Gucci, and Kering says its APAC slump is to blame
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.
Kering shares up, shrugging off 2024 operating profit warning
Shares in Gucci-owner Kering rose on Thursday, shrugging off the French luxury goods company's warning that 2024 operating income would almost halve to its lowest in years due to weak demand in China.
Kering SA (PPRUF) Q3 2024 Revenue Call Transcript
Kering SA (OTCPK:PPRUF) Q3 2024 Revenue Conference Call October 23, 2024 12:00 PM ET Company Participants Armelle Poulou - Chief Financial Officer Claire Roblet - Director, Financial Communications and Market Intelligence Conference Call Participants Aurelie Husson-Dumoutier - HSBC Ben Rada Martin - Goldman Sachs Olivier Chen - TD Cowen Zuzanna Pusz - UBS Luca Solca - Bernstein Edouard Aubin - Morgan Stanley Charles-Louis Scotti - Kepler Cheuvreux Antoine Belge - BNP Exane Thomas Chauvet - Citi James Grzinic - Jefferies Carole Madjo - Barclays Paola Carboni - Equita SIM Operator Welcome to the Kering 2024 Third Quarter Revenue Conference Call and Webcast. Please be advised that today's conference is being recorded.
