Kering Q2 revenue beats estimates despite Gucci sales slip
Kering reported Q2 group revenue of EUR3.65 billion, slightly above expectations, though Gucci's comparable sales fell 2%.
KER
Kering's second-quarter group revenue reached EUR3.65 billion, up 2% on a comparable basis, narrowly surpassing the consensus estimate of EUR3.63 billion.
Gucci, the group's flagship brand, posted revenue of EUR1.41 billion, a 2% decline on a comparable basis. This was still better than the EUR1.37 billion analysts had forecast.
First-half net income from continuing operations, excluding recurring items and attributable to the group, stood at EUR355 million. The ongoing Middle East crisis shaved approximately one percentage point off group revenue growth in the quarter.
Source: First Squawk