Reported about 8 hours ago
S&P Global has downgraded its credit outlook for Kering S.A., owner of Gucci, from stable to negative due to a significant drop in sales, particularly a 22% decline in the Asia-Pacific region and China during the first half of 2025. Kering's flagship brand, Gucci, which contributed over half of its earnings last year, suffered a 25% drop in revenue. The rating agency maintained Kering's long-term credit rating at BBB+, citing reduced rating headroom from ongoing operational pressures and a challenging market environment.
Source: YAHOO