Kering stock falls further as H1 2026 profit drops but jewelry growth stands out

Kering stock remains under pressure on Euronext Paris after a sharp H1 2026 profit decline, even as the group’s jewelry division delivers strong double digit growth and analysts expect earnings to rebound over the current fiscal year.

Kering stock (ISIN FR0000121964) is trading weaker in early September 2026 on Euronext Paris, with the share quoted around EUR 243 during trading on September 2, 2026 and down about 1.9% intraday according to data compiled by Ideal Investisseur.

H1 2026 earnings hit by restructuring

According to an overview of recent market data and half year figures compiled by Ideal Investisseur on September 2, 2026, Kering reported net profit attributable to the group of EUR 189 million in H1 2026, a decline of 60% compared with H1 2025.

The same H1 2026 accounts showed that Gucci revenue fell 5% on a comparable basis versus H1 2025, highlighting that the flagship Italian fashion house is still facing a tougher trading environment than some of Kering’s other brands.

Jewelry division delivers double digit growth

In contrast to the pressure on Gucci, Kering’s jewelry division is emerging as a bright spot. As reported by Luxury Tribune on September 2, 2026, Kering Jewelry generated EUR 521 million in revenue in H1 2026, up 20% on a comparable basis versus H1 2025.

The same half year discussion notes that jewelry revenue in fiscal year 2025 stood at EUR 935 million, underscoring how the segment is already more than halfway to last year’s turnover after just six months of 2026.

For investors, this combination of a 60% earnings drop at group level and 20% comparable growth in jewelry suggests that portfolio diversification within Kering is now critical, with jewelry gains helping to offset weaker momentum in more cyclical fashion categories.

Analyst consensus points to earnings recovery

Beyond the reported figures, current analyst estimates compiled by Yahoo Finance indicate that the market expects Kering’s earnings to recover over the current and next fiscal years.

For fiscal year 2026, the average earnings per share estimate stands at 6.39 according to 23 analysts, compared with historical EPS of 4.33 for fiscal year 2025, implying forecast EPS growth of about 47.6% for the current year.

Looking ahead to 2027, the same analyst overview shows a consensus EPS estimate of 9.98, a further increase of around 56.2% versus the 6.39 level expected for 2026, signaling that the market is pricing in a multi year recovery in profitability after the restructuring heavy first half.

Gucci as a key brand in the portfolio

Within Kering’s portfolio, Gucci remains the largest fashion house and a core driver of long term value, even though comparable revenue declined by 5% in H1 2026 compared with H1 2025 according to Ideal Investisseur.

For retail investors, the Gucci performance matters because the brand’s global scale means that even mid single digit percentage movements in revenue can translate into sizeable changes in group level cash flow and margins.

Kering stock price and index context

Quote data for Kering under the KER.PA ticker on Euronext Paris show that the share closed at EUR 254.05 on August 31, 2026, with a marginal daily decline of 0.06% at the end of that trading session according to Yahoo Finance.

By early afternoon trading on September 2, 2026, the stock had slipped to around EUR 242.70, down roughly 1.8% on the day and showing a 14.6% decline over one month, placing it among the largest corrections in the CAC 40 index according to Ideal Investisseur.

Kering stock key data

• Company: Kering SA
• ISIN: FR0000121964
• Ticker: KER.PA
• Trading venue: Euronext Paris
• Price (as of September 2, 2026, 11:00): 243.15 EUR
• Market capitalization: 30.9 billion EUR (as of September 2, 2026)
• Sector / Industry: Luxury goods
• Index membership: CAC 40