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Earnings Score 48 Bullish

Kering Q1 Revenue Dips 6% as Gucci Struggles, Jewelry Gains

Apr 14, 2026 19:21 UTC
PPRUF
Short term

Luxury conglomerate Kering reported first-quarter revenue of 3.57 billion euros, a 6% decline on a reported basis. Despite headwinds in its core fashion segment, the group saw growth in jewelry and eyewear.

  • Total Q1 revenue reached 3.57 billion euros
  • Reported revenue declined 6% year-over-year
  • Gucci revenue dropped from 1.57 billion to 1.35 billion euros
  • Jewelry segment increased to 269 million euros
  • Eyewear revenue grew to 489 million euros
  • PPRUF shares climbed 5.73% to $329.00

Kering SA has reported first-quarter 2026 revenues of 3.57 billion euros, marking a 6% decrease on a reported basis. However, the company noted that performance remained stable when viewed on a comparable basis, suggesting that underlying demand remains resilient despite currency or structural headwinds. The results highlight a continuing divergence within the luxury group's portfolio. The Fashion & Leather Goods division, the group's primary revenue driver, saw revenue fall to 2.85 billion euros, down from 3.13 billion euros in the prior year. This decline was largely attributed to the flagship brand Gucci, which reported revenue of 1.35 billion euros, compared to 1.57 billion euros in the same period last year. Conversely, Kering's diversified segments provided a partial offset to the fashion slump. The Jewelry segment grew to 269 million euros from 236 million euros, while the Eyewear division also posted an increase, rising to 489 million euros from 476 million euros. Despite the reported top-line decline, investors reacted positively to the update. Kering (PPRUF) shares rose 5.73% to $329.00 on the OTC Markets, indicating that the market may have priced in a steeper decline or is optimistic about the stability of the comparable revenue figures.

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