UBS Cuts Kering Forecasts After Weak Gucci Sales
Kering's third-quarter sales fell on a comparable basis as Gucci slowed. UBS cut its forecasts and target price; shares fell over 11% in early trade.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
French luxury group Kering reported a decline in comparable sales for the third quarter, held back by a steeper drop at its largest brand, Gucci. The figures were reported by Market Talk, citing analysts at UBS.
UBS said the company has made little meaningful headway in restoring Gucci's growth, which remains the main focus for investors, and that this is likely to disappoint the market. The bank lowered its earnings estimates for Kering for this year and beyond, and cut its target price to 219 euros from 224.
In morning trading the shares dropped more than 11%, to 189.54 euros.
why it matters
The key question for investors now is whether Gucci can return to growth, since that will shape earnings expectations and the valuation of the whole group. A weak quarter and lower forecasts could keep pressure on Kering shares and sentiment across the luxury goods sector.
market impact
Kering and luxury goods sector: weak Gucci sales weigh on shares and valuations
tags
instruments
sources
- Kering Looks Burdened by Gucci Travails — Market Talk, 23 October 2026 at 08:52 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗