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Kering's sales dropped 9% in Q4, with Gucci's 10th straight decline, but the company plans a turnaround via cost cuts, store closures, and selling its beauty brand to L’Oréal.
Kering reported a 9% drop in fourth-quarter sales to 3.9 billion euros, slightly better than expected, with Gucci sales down 10%—its 10th straight quarterly decline—though the decline eased from prior quarters.
The company, under new CEO Luca de Meo, is implementing a turnaround plan including cost cuts, store reductions, and selling its beauty business to L’Oréal for 4 billion euros.
Despite a net loss of 29 million euros from continuing operations, adjusted net income fell to 532 million euros.
Kering aims to return to growth in 2026, with a detailed roadmap to be unveiled April 16, as luxury demand remains weak amid inflation, geopolitical tensions, and slowing U.S. and Chinese markets.
Las ventas de Kering cayeron un 9% en el cuarto trimestre, con el décimo declive consecutivo de Gucci, pero la compañía planea un cambio de rumbo a través de recortes de costos, cierres de tiendas y venta de su marca de belleza a L'Oréal.