European luxury stocks slump: Kering falls 12% after another sales decline

FinanceInternationalXTB.comOct 23, 2026, 7:25 AM40 s readAI summary

European stock markets ended the week lower, with the CAC 40 down about 1.1% and the DAX around 0.85%. The luxury sector led the selloff: Kering, owner of Gucci, plunged 12% after reporting another drop in sales and announcing it would accelerate store closures to 125 locations by year-end. Gucci posted a 6% decline in sales. LVMH and Hermès fell as much as 2%, amid concerns over AI valuations, oil prices and the political and fiscal crisis in France.

In 40 seconds

Kering fell 12% after another sales decline and its announcement to accelerate store closures to 125 by year-end.
Gucci, its flagship brand, posted a 6% drop in sales; management described the recovery as "gradual".
LVMH and Hermès fell as much as 2%; Hermès' forward P/E (27.04) is the lowest since 2014 and LVMH's (16.39) a ten-year low.

Read the full story at XTB.com

IASummary generated by artificial intelligence from a story by XTB.com. It may contain errors: the original source prevails.

lujo
bolsas europeas
Kering
Gucci
CAC 40

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European luxury stocks slump: Kering falls 12% after another sales decline

In 40 seconds

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