KERING: THIRD-QUARTER REVENUE ROSE 0.4% TO €3,345M AND FELL 1% COMPARABLE; GUCCI FELL 6% WHILE THE REST OF THE GROUP GREW 3.3%
By Pau Almar · Published
Q3 2026 · 22 OCTOBER 2026
Kering's revenue for the third quarter of 2026 was €3,345m, 0.4% above the €3,331m of a year earlier, restated to exclude Kering Beauté. On a comparable basis, excluding currency and scope, revenue fell 1%, after growth of 2% in the second quarter. For the nine months revenue was €10,565m, 1.9% lower as reported and flat on a comparable basis. The release gives no profit, margin or cash figure.
Gucci, 38.6% of the quarter's revenue, fell 3.9% to €1,291m, and 6% on a comparable basis after a fall of 2% in the second quarter. Its own stores and e-commerce lost €91m, down 9% comparable, with Japan at -17% and Asia Pacific at -14%. Wholesale added €38m, up 45% comparable from a low base. The company links the quarter to phasing and a demanding comparison base.
// KEY NUMBERS
Q3 2026 · three months to 30 September 2026
| Revenue | EUR 3,345m |
|---|---|
| Reported growth | 0% |
| Constant-currency growth | −1% |
The rest of the Group grew. Jewelry rose 11% comparable to €239m and Eyewear 4% to €373m; together they added €46m in reported terms, more than the Group's €14m increase. Without Gucci, Group revenue rose 3.3%.
The Group closed a further 105 net stores in nine months, exceeding its full-year target of 100, and now plans at least 125, which implies at least 20 net closures in the fourth quarter.
The fourth-quarter release will show Gucci comparable growth against -6% and Jewelry against +11%, after +22% and +18% in the first two quarters. The company confirms an improvement in the recurring operating margin without a figure; the full-year results will test it.
Source: Kering, Revenue for the third quarter of 2026, press release, 22 October 2026 ↗
Analysis by Pau Almar, VGR.
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