Luxury quarter reports and Kering hit
Analysts expect a modest uptick in first‑quarter luxury results as LVMH, Kering and Hermès report during ‘Luxury Superweek,’ with investors looking for signs of stabilization. ( ) Kering’s stock fell more than 3% after Morgan Stanley downgraded the group, a move that commentators framed as favoring LVMH over Kering until Gucci shows clearer sales recovery. ( )
Kering entered luxury earnings week under pressure after Morgan Stanley downgraded the stock and shares fell more than 3% on Monday. (kering.com, article.wn.com) The downgrade landed hours before Kering’s first-quarter 2026 revenue release, scheduled for Monday, April 13 after the market close, and two days before its Capital Markets Day on Wednesday, April 15. LVMH is due to report first-quarter revenue on April 12, and Hermès has its first-quarter analyst call on April 15 at 9 a.m. Paris time. (kering.com, lvmh.com, finance.hermes.com) Analysts heading into the week were looking for a slight improvement from the fourth quarter across the sector, not a rebound. Vogue reported that expectations for the first quarter pointed to modest stabilization despite weaker demand and conflict in the Middle East. (vogue.com) The immediate focus is Gucci, Kering’s biggest brand and the main reason investors have treated the group differently from LVMH and Hermès. Several reports on Monday said Morgan Stanley cut Kering to equal-weight and lowered its price target, arguing that a clearer Gucci sales recovery has not yet appeared. (coincentral.com, trustfinance.com) Kering has already signaled that this week is about more than one quarter’s sales. In March, the company said it would change how it reports its businesses and present the broader strategy in detail at its April 16 Capital Markets Day. (kering.com) LVMH is coming into the same week with its own market damage. Bloomberg reported on April 1 that LVMH shares had fallen 28% in the first quarter, the worst start to a year on record for the group, as investors priced in weaker luxury demand and a darker global outlook. (bloomberg.com) That leaves Hermès in a familiar position as the sector’s relative benchmark. Its investor site lists the first-quarter 2026 revenue call for April 15, and investors will be watching whether its resilience holds while rivals try to prove that demand has stopped deteriorating. (finance.hermes.com) Business of Fashion framed the week as “Luxury Superweek,” with Kering’s strategy reveal in Florence sharing the stage with first-quarter sales updates from LVMH, Kering and Hermès. By the end of the week, investors should have a cleaner read on whether luxury is stabilizing — and whether Kering can persuade them that Gucci is finally turning. (businessoffashion.com)
