Oncast Mix · Rush Hour Mix

Gucci sales slide, Kering stock tumbles

· Fact-checked before it aired. Unconfirmed claims from this segment are not shown.

Kering reported Q3 2026 revenue of €3.345 billion, stable as reported but down 1% on a comparable basis. Gucci sales fell 6% on a comparable basis to €1.29 billion, with directly operated retail network sales down 9%. Kering's American Depositary Receipts fell 11% after the update.

Weak demand in China and lower store traffic, especially in Asia Pacific and Japan, continued to hurt Gucci, which has been declining for more than three years. CEO Luca de Meo's five-year turnaround plan aims to double profit margin, but softer macroeconomic conditions and cooling US demand are headwinds.

Gucci's third-quarter sales fell 6% on a comparable basis to €1.29 billion, and Kering's group revenue slipped 1% on a comparable basis, as weak Chinese demand and lower store traffic continued to weigh on the luxury group. This is a personal opinion/gossip about individuals; no factual claim to check.

There is no credible evidence for a "THRONE CLIMATE" program or that the Rothschild family controls global weather or engineered hurricanes and earthquakes; these are baseless conspiracy theories. This is a reaction to a video; no factual claim to check. This is an expression of shock; no factual claim to check. This is speculation/opinion about a marketing stunt or internal action; no factual claim to check.

Fact-check

VERIFIED TRUE

Gucci's third-quarter sales fell 6% on a comparable basis to €1.29 billion, and Kering's group revenue slipped 1% on a comparable basis, as weak Chinese demand and lower store traffic continued to weigh on the luxury group. This is a personal opinion/gossip about individuals; no factual claim to check.

Gucci sales slip again in latest blow to Kering recovery plan https://t.co/T4vLuXbxOE https://t.co/T4vLuXbxOE

Original post · @Reuters

Reuters NAMES: Kering = French luxury group that owns Gucci, Saint Laurent, Bottega Veneta and other brands. POST 2113398324745371684: NOCLAIM None NAMES: Ciroc

VERIFIED TRUE

There is no credible evidence for a "THRONE CLIMATE" program or that the Rothschild family controls global weather or engineered hurricanes and earthquakes; these are baseless conspiracy theories. This is a reaction to a video; no factual claim to check. This is an expression of shock; no factual claim to check. This is speculation/opinion about a marketing stunt or internal action; no factual claim to check.

🚨 VIRAL CLAIMS allege the Rothschild family controlled global weather through a secret program called “THRONE CLIMATE.” However, there’s no credible evidence supporting these allegations or claims that they engineered hurricanes and earthquakes. ⚠️ https://t.co/FcAlhwCb1w

Original post · Deep Leaks 1.0 (@_DeepleaksQ)

None (baseless conspiracy theory) NAMES: Rothschild family = European banking dynasty often targeted by antisemitic conspiracy theories. POST 211339831675918352

Sources

What the hosts said

EGucci just posted another bad quarter, and the stock is getting punished. Kering's American Depositary Receipts fell 11% after the update.
SEleven percent in a day. That's not a wobble, that's investors saying the turnaround isn't working.
EThe numbers: Gucci sales down 6% on a comparable basis to €1.29 billion. Group revenue slipped 1%. Weak Chinese demand, lower store traffic.
SAnd this is the brand that was supposed to be fixed by now. The CEO keeps saying Gucci is the 'defining priority.'
ELuca de Meo has a five-year plan to double profit margin. But analysts are saying efficiency measures alone won't save a brand that's lost its appeal.
SHere's my problem: Gucci has been declining for more than three years. At some point, 'turnaround' becomes a euphemism for 'we don't know how to fix it.'
EThat's harsh. Luxury is cyclical. China is weak, US demand is cooling. Every luxury group is feeling it.
SBut Kering is feeling it more. Saint Laurent and Bottega Veneta are holding up better. This is a Gucci problem, not just a macro problem.
EFair. The finance chief said they're carrying out the plan 'with the utmost discipline.' Which is what you say when you don't have good news.
SExactly. 'Discipline' is corporate for 'we're cutting costs and hoping nobody asks about growth.'
EBut here's the other side: Gucci still made €1.29 billion in a quarter. This is a brand with real pricing power. One hit collection changes everything.
SOne hit collection. That's the entire strategy? Hope for a viral moment?
ENo, the strategy is to reposition the brand, cut distribution, raise quality. But luxury is emotional. You need desire, not just discipline.
SAnd desire is exactly what's missing. Brands that have lost appeal don't get saved by spreadsheets.
EI'll give you this: if the next two quarters don't show improvement, de Meo's plan is dead. Investors won't wait five years.
SThey already aren't waiting. Eleven percent in a day is the market voting with its feet.
ESpeaking of businesses hoping for a viral moment, there's a Bluesky post from a game developer that caught my eye.
SLet me guess: another indie dev complaining about discoverability.
EMeghna Jayanth, who wrote for games like 80 Days, says the business model for indie games is 'hope a streamer makes it go viral.' She calls it genuinely nonsense.
SShe's not wrong. You spend three years making a game, and your marketing plan is 'pray a YouTuber with a million subs notices it.'
EBut that's always been true for indie anything. Indie films, indie music. You need a champion.
SThere's a difference between needing a champion and having no other path. Steam is flooded. The App Store is flooded. If a streamer doesn't pick you up, you're invisible.
EAnd yet, games like Vampire Survivors and Among Us blew up exactly that way. The system works sometimes.
S'Sometimes' is doing a lot of work there. For every Among Us, there are ten thousand games that sold twelve copies.
ESo what's the alternative? Publishers? They take your IP and half your revenue.
SMaybe the alternative is platforms actually surfacing good games instead of just whatever's already trending. But that's a bigger fight.
EFair. And it's not just games. A Bluesky post from Movies Silently has a great example of viral hype backfiring.
SWhat happened?
ESomeone bought those viral 'unbreakable' pans before they blew up, put them aside, and finally reviewed them. The post says the pans melted. In the summer. In northern Scotland.
SNorthern Scotland. That's not exactly Death Valley. If they melt there, they're not pans, they're candles.
EThe reviewer tried to hedge: 'Ah, but it was a hot summer!' The poster is not buying it.
SThis is the whole internet economy in one story. Viral product, zero durability, and the only reason anyone bought it was a TikTok clip.
EAnd the only reason anyone knows it's garbage is that one person in Scotland supposedly tested it months later.
SThe lesson: if a pan is famous for being unbreakable, maybe ask what it's actually made of before you buy.
EOr just wait for the Scottish summer review.
SThe most rigorous product testing on the internet comes from people who forgot they bought something.
EAlright, one more from the world of 'things that went viral for the wrong reason.'
SI'm almost afraid to ask.
EThere's a Bluesky post from bplane about some company stunt. They say it's either a cynical marketing ploy or malicious compliance from an employee trying to make management look stupid.
SAnd they add: 'and succeeded.' That's the key part. If your own employee can make you look stupid, you've got bigger problems than marketing.
EThe post doesn't name the company, but the dynamic is universal. A tone-deaf campaign, and someone inside decides to just... let it happen.
SMalicious compliance is the most underrated form of employee feedback. It's a resignation letter written in actions.
EAnd it's always more effective than a meeting with HR.
SThat's the thing about viral moments. You can't control which ones you get. Gucci wants desire, indie devs want a streamer, and some company got a public humiliation instead.
EThe internet giveth, and the internet taketh away. Mostly taketh.
SComing up after the break, Prime Time takes over. We'll see what they make of all this.

Cite this story as https://oncast.fm/story/1792709099364-mix-segment-gucci-sales-slide-kering-stock-tumbles. Fact-check by Oncast. Cite the original sources above too.

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