Gucci sales slump continues as market awaits turnaround By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 11 2025
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Source: Investing.com
Kering's Struggles with Gucci: Kering reported a 12% decline in sales for the last quarter, primarily due to a 24% drop in Gucci's sales, which is crucial for the group's profits. The company is focusing on cost control and plans to close around 50 stores while searching for a new designer after firing Sabato de Sarno.
Market Reactions and Future Outlook: Despite the weak performance, Kering's shares initially rose as analysts noted signs of stabilization and modest improvement. CEO Francois-Henri Pinault expressed confidence that Gucci will recover, although he cautioned that significant sales growth may not occur until 2025.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
