Kering stock falls as H1 profit drops and jewelry grows
Published on 09/03/2026 at 16:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Kering (FR0000121964) stock traded around EUR 243 on September 2, 2026, while the group reported H1 2026 net profit of EUR 189 million, down 60 percent from H1 2025. On the same day, a market update also pointed to jewelry revenue of EUR 521 million, up 20 percent in the first half.
JPMorgan keeps pressure on
According to a TipRanks report on JPMorgan, Chiara Battistini kept a Sell rating on Kering SA and set a price target of EUR 235.00 on September 3, 2026. The same report said the average analyst target stands at EUR 278.67, leaving the stock below both levels at about EUR 243 on September 2, 2026.
That gap matters because the latest quarter ending June 30 brought revenue of EUR 7.22 billion, below EUR 7.59 billion a year earlier, while net profit fell to EUR 189 million from EUR 474 million. The numbers show that the recovery story still depends on whether the weaker core brands can stabilize faster than the portfolio can offset them.
Jewelry offsets Gucci
The contrast inside the group is sharp. Kering Jewelry generated EUR 521 million in H1 2026, up 20 percent year on year, while Gucci revenue fell 5 percent on a comparable basis in the same half.
For investors, that split is the key reading of the half-year report: one segment is already above last year''s pace after six months, while the flagship brand is still under pressure. The market has been pricing that tension into the share for weeks.
Kering stock and the H1 2026 reset
Half-year revenue, profit, and segment trends now matter more than the brand story alone.
Gucci stays the swing factor
Gucci revenue fell 5 percent on a comparable basis in H1 2026, making it the main swing factor for group margins and cash generation. A 5 percent decline at the largest brand is still large enough to move the whole group.
Kering's portfolio is therefore not being judged only on fashion demand, but on whether jewelry growth can keep compounding while Gucci heals. That is the central investor question after the latest half-year figures.
Product that matters
Gucci remains the most important brand in the group mix. Its H1 2026 revenue decline to a 5 percent comparable drop stands in contrast with jewelry revenue of EUR 521 million and explains why the brand is still the first line investors watch.
Stock and trading view
Kering stock was quoted at EUR 243 on September 2, 2026, after the share closed at EUR 254.05 on August 31, 2026. The latest market cap cited in the trading update was EUR 30.9 billion on September 2, 2026.
Kering key data
- Company: Kering SA
- ISIN: FR0000121964
- Ticker: KER.PA
- Trading venue: Euronext Paris
- Price (as of September 2, 2026, 11:00): EUR 243.15
- Market capitalization: EUR 30.9 billion (as of September 2, 2026)
- Sector / Industry: Luxury goods
- Index membership: CAC 40
