Reported about 13 hours ago
Kering SA shares increased due to better-than-expected profits and signs of stabilization at Gucci, despite the brand's recent struggles with demand. The company's annual profit slightly exceeded analyst estimates, leading to a stock boost of up to 6.7%. Although Gucci revenue fell by 24% last quarter, CFO Armelle Poulou noted slight improvement in China sales. With a new CEO and the departure of designer Sabato De Sarno, Kering aims to control costs and improve overall performance amid a wider luxury market slowdown.
Source: YAHOO