Kering's third-quarter revenue flat as store traffic slowed
Kering reported Q3 2026 revenue of EUR 3.35 bn, flat as reported. Gucci fell 4% while its jewelry unit grew 12%, according to Reuters.
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what happened
According to Reuters, French luxury group Kering, which owns Gucci, posted third-quarter 2026 revenue of EUR 3.35 billion, flat as reported and down 1% on a comparable basis. The company said reduced store traffic was the main constraint on sales.
Gucci's revenue fell 4% as reported and 6% on a comparable basis, which the company attributed to a tougher comparison base and a weaker effect from new products. Kering Jewelry grew 12%, helped by demand for iconic collections and momentum in Japan and South Korea. Management reaffirmed its goal of improving recurring operating margin in 2026 and said recovery at Gucci is gradually taking shape.
why it matters
For markets, the result signals softer demand for luxury goods in Europe and the sector's reliance on tourist flows. Reuters data shows the average analyst rating on the shares is "hold", with a median 12-month price target of EUR 260 against a October 21 close of EUR 216.25.
market impact
Kering and luxury sector: weaker store traffic pressures revenue at groups dependent on Gucci
tags
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sources
- Gucci owner Kering's Q3 revenue flat amid reduced store traffic — Reuters, 22 October 2026 at 15:52 UTC
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