From Yahoo Finance: 2025-04-24 12:58:00

Kering saw a 14 percent drop in first-quarter revenues, causing a 1 percent dip in shares. Chairman François-Henri Pinault acknowledged Gucci’s 25 percent decline and vowed to return to better results. The new artistic director, Demna, aims to revamp Gucci, promising renewed energy and a strong cultural impact.

Pinault expressed confidence in Demna, despite investor skepticism, highlighting the new chapter for Gucci. The goal is to lead brand transformations and maintain a luxury position. Demna will reveal his vision in September, with Gucci’s debut during Milan Fashion Week.

Kering’s deputy CEO shared that Demna’s vision will be unveiled in September. Gucci is seeking growth through new handbag ranges, despite challenges. Shareholders expressed discontent over the falling share price and dividend, urging for improvements in the brand’s performance and shareholder benefits.

Deutsche Bank reduced Kering’s earnings per share forecast by 13 percent due to a first-quarter miss and cautious outlook. The annual shareholders’ meeting faced disruptions from PETA activists demanding the end of exotic skins use. The meeting ended with gifts for shareholders and increased security presence. 1. The stock market saw a significant drop today, with the Dow Jones Industrial Average falling by over 500 points. This was attributed to rising inflation concerns and fears of a potential economic slowdown.

2. A new study published in a leading medical journal found that the COVID-19 vaccine is highly effective in preventing severe illness and death from the virus. The study analyzed data from over 100,000 patients and showed a 95% efficacy rate.

3. The United Nations reported that the humanitarian crisis in Yemen is worsening, with over 20 million people in need of urgent assistance. The ongoing conflict in the country has led to widespread food insecurity and malnutrition among the population.

4. Tesla announced plans to build a new Gigafactory in Texas, which is expected to create thousands of jobs in the region. The factory will produce electric vehicles and battery cells, further solidifying Tesla’s position as a leader in the clean energy industry.

Read more: Kering ‘Fully Mobilized’ to Fix Gucci, CEO Tells Shareholders