Kering shares among the strongest declines on the CAC 40, -11% over one month
The luxury group's stock, owner of Gucci and Saint Laurent, is losing ground this Tuesday in an almost stable CAC 40. The downward pressure accumulated over several weeks remains intact, with the price trading well below all its moving averages.
A 1% decline that is part of a quarterly slide of more than 15%
Kering is down 1.03% to €225.85 in trading, in a Paris market that is virtually unchanged (-0.08%). Today's decline extends an unfavorable underlying trend: the stock has lost 11.15% over one month and 15.43% over the quarter. The price is thus well below its three moving averages, with a gap of 4.60% below the 20-day MA at €236.73 and nearly 11% below the 50-day MA at €253.55.
The support level at €223.35 remains the key level to monitor in case of further downward acceleration. The RSI at 40 remains in neutral territory, without a marked signal of selling exhaustion at this stage, which does not suggest any immediate rebound configuration. For a valuation reference point: according to the consensus of analysts surveyed, the stock is trading at around 35 times expected earnings for the current fiscal year, compared to approximately 23 times those for the following fiscal year, a gap that illustrates the magnitude of the earnings compression expected for the current period.
First-half results under pressure and a buyback program supporting the capital
When publishing the H1 2026 results on July 29, Kering reported a decline in Gucci's revenue of 5% on a comparable basis, a net profit attributable to the group down 60% to €189 million, and non-recurring operating expenses of €223 million related to disposals, write-downs, and restructurings. The group had then stated an objective to return to growth and improve profitability. On the negative side of these results, several elements had weighed on the reading of the accounts; on the positive side, the Kering Jewelry division had advanced by 20% on a comparable basis, with current margin up 2.7 points, and the disposal of Kering Beauty had made it possible to reduce net debt by €4.7 billion.
In this context, the group announced on May 28, 2026 a share buyback program of €8.6 billion, which constitutes potential support for the share price. In parallel, business conditions in the luxury sector in China remain difficult: jewelry and gold sales there declined by 17.5% year-over-year in August 2026 according to official data, in an environment that continues to weigh on all luxury groups with significant Asian exposure. The support level at €223.35 is the technical reference to follow in the coming sessions.
