Gucci Sales Decline Slows in Boost for Kering’s Turnaround Efforts
Gucci sales fell 2% in the quarter, a smaller drop than analysts expected, as new designs and U.S. demand helped lift Kering’s results.
- On Tuesday, Kering reported 2% revenue growth to €3.65 billion on a comparable basis for the second quarter of 2026, marking a return to growth following a 3% decrease in Q1.
- Gucci's revenue decline eased significantly, with sales falling 2% to €1.41 billion, a notable improvement over the 8% drop in the previous quarter and beating analyst expectations of a 4.7% decline.
- Kering's jewelry business confirmed strong momentum with sales rising 18% to €252 million, while Kering Eyewear reported an 8% increase to €476 million during the quarter.
- Under the leadership of Kering CEO Luca de Meo, the firm is pursuing a strategic roadmap that included closing 84 stores during the first half of 2026.
- Regarding future performance, Kering CFO Armelle Poulou noted, "We expect the second half margin to be higher than the first half," while cautioning that Q3 faces a "more demanding" comparison basis.
18 Articles
18 Articles
Kering Jewelry Sales Spike Amid US and Asia Demand
Revenue jumped at Kering’s jewelry division in the second quarter amid strong trading in the US and Asia, with its Boucheron and Pomellato brands leading the charge. Sales for the division grew 15% year on year to EUR 252 million ($287 million) for the three months, the French luxury group reported Tuesday. Sales rose 18% on a comparable basis, which accounts for exchange-rate fluctuation and changes to the company’s structure. “Kering Jewelry d…
Kering’s Slowing Slowdown & Harvey Nichols’s Dwindling Options
Line Sheet, the ultimate fashion industry bible, offers daily intel from Lauren Sherman, Rachel Strugatz, and Malique Morris on every aspect of the business and its biggest players. (Sign up here to get it in your inbox.) Here’s the latest you need to know: Kering’s first-half 2026 earnings, like LVMH’s report yesterday, were mostly a […] The post Kering’s Slowing Slowdown & Harvey Nichols’s Dwindling Options appeared first on Puck.
Kering sales begin to recover as Gucci improves
Kering nevertheless reported that half year net profit fell by 60 percent to 189 million euros ($216 million), due in large part to exceptional items. Half-year sales dipped three percent to 7.2 billion euros on a reported basis but once currency exchange rates and changes to the business are stripped out they edged one percent higher. The sales performance improved in the second quarter, rising one percent on a reported basis to 3.7 billion eur…
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