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28.07.26 - 19:24
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Kering H1 Revenue Declines, Stock Up (AFX)
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PARIS (dpa-AFX) - Tuesday, Kering SA (PPX.F) announced its financial results for the first half of 2026, reporting revenue of 7,220 million euros, down from last year's 7,439 million euros.Net inc......
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15.04.26 - 14:27
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Kering And Hermès Sink As War Batters Earnings; Goldman Warns Luxury Dip-Buying Is "Premature" (ZeroHedge)
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Kering And Hermès Sink As War Batters Earnings; Goldman Warns Luxury Dip-Buying Is "Premature"
Goldman's Natasha de la Grense summed it up well this morning: "Money was waiting on the sidelines to buy luxury for a de-escalation play – that feels premature with three misses in three days."
Disappointments from Kering and Hermès, both of which fell short of analyst estimates, reinforced the view that the industry of fine wine, overpriced shirts, shoes, belts, and designer bags, is not yet out of the woods and sent the Goldman Sachs EU Luxury Goods Index (GSXELUXG) down more than 4%.
Gucci's turnaround appears to be faltering, with first-quarter revenue plunging 8% - nearly double the expected decline as the US-Iran conflict hit Middle East demand and tourism.
The conflict started late in the first quarter, resulting in an 11% sales drop in the Middle East (about 5% of revenue) and shaving roughly 1 percentage point off Kering's overall sales.
Shares of Kering i...
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15.04.26 - 08:06
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Gucci Sales Down, Revenue Slides (Bloomberg)
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Gucci sales fell, hurt by the conflict in the Middle East. Revenue at the Kering SA brand slid 8% on a comparable basis during the first quarter. Analysts were expecting a drop of 4.3%. Bloomberg Intelligence's Deborah Aitken breaks down the situation....
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14.04.26 - 21:49
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Kering Q1 Revenue Down 6% (AFX)
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PARIS (dpa-AFX) - Kering SA (PPRUF), the luxury goods company, on Tuesday reported first-quarter 2026 revenue of 3.57 billion euros, representing a 6 percent decline as reported, but remaining sta......
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14.04.26 - 08:48
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LVMH Misses Estimates; Kering, Hermes Set to Report (Bloomberg)
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Luxury goods firm LVMH reported first-quarter organic revenue that missed consensus estimates, driven by the underperformance of its key fashion and leather goods division. Kering and Hermès are also due to report this week, as Bloomberg Opinion's Andrea Felsted explains. Her views are her own. (Source: Bloomberg)...
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