On April 15, Gucci's organic sales fell by 8%, exceeding analysts' expectations of a 6% decline. Following this disappointing result, Kering's stock dropped by 6%. Additionally, Hermes shares faced pressure after reporting slower-than-expected Q1 sales growth attributed to regional turmoil.
French luxury giant Kering continues to face a severe downturn as its sales have fallen for the eleventh consecutive quarter, primarily due to a 40% slump in Gucci's sales since 2021. In response, the group has announced plans to complete a full structural reset by the end of this year, aimed at restoring financial…
Read the full storyEuropean luxury brands are facing intensified selling pressure as Hermes reported a significant hit to its performance in the Middle East and a decline in French sales. Geopolitical tensions involving Iran are specifically stymying the sector's recovery efforts, creating a challenging environment for high-end…
The luxury goods sector faced intensified selling pressure as Goldman Sachs warned that dip-buying is 'premature' following three consecutive earnings misses, causing the GSXELUXG index to fall over 4%. Hermes International saw its shares plunge 10% after reporting sales growth of 5.6%, missing the 7.44% Bloomberg…