Gucci-owner Kering reported disappointing second-quarter results with a 15% drop in sales to 3.7 billion euros, missing forecasts. Gucci sales plummeted 25% to 1.46 billion euros. Chairman Pinault acknowledged the struggle but remains optimistic about the company’s future. Sales weakened across all markets, especially in China and the U.S.

Kering’s share price is down 8% year-to-date amid concerns about turnaround efforts. Luca de Meo’s appointment as CEO in September brought positive momentum. Challenges ahead include new tariffs on U.S. imports and consumer spending worries in China. Reviving Gucci’s image under new artistic director Gvasalia is a top priority.

Analysts believe product desirability is a key issue for Kering. Gucci’s future success hinges on introducing fresh, innovative designs. The company aims to unveil Gvasalia’s vision in September, with a full collection launch in January 2026. Maintaining brand appeal while attracting new consumers is crucial for Kering’s long-term growth.

Read more at CNBC

1. The U.S. economy added 943,000 jobs in July, surpassing expectations and showing strong recovery from the pandemic. Unemployment rate fell to 5.4%, the lowest since the start of the pandemic.

2. Apple’s stock price reached a new all-time high of $150 per share, making it the first publicly traded company to reach a $2.5 trillion market cap. The tech giant’s revenue and earnings continue to grow.

3. Bitcoin surged to $45,000, hitting a three-month high as investors regain confidence in the cryptocurrency market. The rise in Bitcoin price comes amidst growing interest from institutional investors and increased adoption.: KERING (KER-FR) earnings Q2 2025