Kering shares fall after Gucci sales drop 8%
Kering shares fell more than 4% in premarket trading after weaker-than-expected sales from its flagship brand Gucci, which reported an 8% decline in first-quarter revenue.
The drop marks the 11th consecutive quarterly fall for Gucci, underscoring ongoing pressure on the luxury sector as global demand softens, News.Az reports, citing Reuters.
Analysts said the decline was deeper than expected, with spending from Middle Eastern shoppers weakening and international travel also impacted by geopolitical tensions linked to the Iran conflict.
Despite confirming its overall guidance, Kering faces uncertainty over the timing of a potential turnaround at Gucci, with analysts warning that recovery is likely to be gradual amid a challenging macroeconomic environment.
Citigroup analysts noted that ongoing geopolitical risks and weak consumer sentiment continue to weigh on high-end discretionary spending.
Kering shares are already down around 7% so far in 2026, reflecting broader investor concerns over slowing growth in the luxury goods sector.
News.Az
By Aysel Mammadzada
