A woman walks past a shop of fashion house Gucci in Paris, France, April 17, 2025. REUTERS
MILAN, April 15 (Reuters) – Kering shares fell more than 4% in premarket trade on Tradegate on Wednesday after sales of its Italian flagship brand Gucci dropped by 8% in the first quarter, marking the 11th straight quarterly decline.
The decline was steeper than expected, as the war involving Iran weighed on spending by Middle Eastern shoppers and curtailed international travel.
“While guidance was confirmed, the timeline for a Gucci turnaround remains uncertain and likely gradual, against a challenging macro backdrop and ongoing geopolitical tensions,” Citi analysts wrote.
Kering shares are down around 7% so far in 2026.
Reporting by Danilo Masoni, editing by Milla Nissi-Prussak
