Skip to content
Subscriber Only

Kering Rises as Sales Beat Estimates, Bucking Industry Gloom

  • New leadership and products help boost Saint Laurent
  • Efforts to revive Gucci are cause for optimism, analyst says
Updated on

Kering SA shares rose to a two-month high after the French luxury-to-sporting-goods maker reported third-quarter revenue growth that beat analysts’ estimates on demand for Puma footwear and Saint Laurent dresses.

Sales climbed 3.1 percent on a comparable basis, Kering said Thursday after European markets closed. Analysts predicted growth of 2.8 percent, according to the median of 21 estimates. The Paris-based company repeated its full-year forecast for mid-single digit revenue growth. The shares advanced 6.3 percent to 166 euros at 9 a.m. local time.