Kering Sa Ord (PPRUF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Caring 2026 First Quarter Revenue Conference Call and Audio Cast. Please be advised that today's conference is being recorded. As a reminder, all participants are in a listen-only mode. At this time, I would like to turn the conference over to Amal Pulu, Group Chief Financial Officer. Please go ahead, Madam. Thank you. Good evening to all of you and welcome to Caring 2026 First Quarter Revenue Call. We are speaking to you today from Gucci headquarters in Florence, just two days ahead of our Capital Market Day. I will be reviewing our performance, and we will be joined by Philippine Lechon, head of IR, for the Q&A session. Starting on slide 5, we introduce our new segment reporting, which was announced on March 16, and reflects the group's strategic priorities. We are now organized around four segments, carrying fashion and leather goods, including Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, and Brioni. Carrying jewelry, bringing together Boucheron, Pomelato, Dodo, and Killeen. Carrying eyewear as a standalone segment, and corporate and other, which includes group services and jewelry 1735. Gucci is obviously part of carrying fashion and leather goods, but its performance will also be disclosed separately, given its weight in the group's revenue and our commitment to a high level of transparency in the context of the transformations currently underway. On slide 6, group revenue in the quarter came close to 3.6 billion euros, down 6% as reported, impacted by the strengthening of the euro, and stable year-on-year on a comparable basis. This stabilization represents an important first milestone and a further sequential improvement. It was delivered in a challenging and uncertain environment with low visibility and continued pressure on consu...