Kering's above-expected revenue boosts luxury, while Moncler surges on the Milan Stock Exchange.

(Il Sole 24 Ore Radiocor) - The numbers from the giant Kering are boosting the luxury sector in Europe, and Moncler and Brunello Cucinelli are doing well on the main stock exchange at Piazza Affari, among the best performers on the main index. In Paris, in addition to Kering's rise, L'Oréal and Hermès are doing well.

The French luxury giant closed the third quarter with sales down 10% to €3.41 billion (-5% on a comparable basis), "a sharp sequential improvement (-15% in the second quarter of 2025), approximately half of which is due to the performance of Kering's houses beyond the favorable comparison basis." The numbers beat expectations (€3.3 billion) and analysts have given the company a boost, highlighting the eagerly awaited presentation of CEO Luca de Meo's new business plan in the spring: "Kering posted even better-than-expected results, despite expectations already being high," commented Deutsche Bank. "Importantly," analysts say, "this improved commercial performance concerns all the main brands, and since the guidance on gross margin and operating expenses has been confirmed, this translates positively into the group's operating profit forecasts."

Gucci , the group's flagship brand, alone accounted for 44% of third-quarter sales and two-thirds of operating profitability, but has yet to fully recover, despite improving. The group expects "a decline in sales in the fourth quarter, year-on-year, of the same order of magnitude as that in the third quarter," CFO Armelle Poulou said during a meeting with analysts. According to experts, this means Kering should be able to maintain a lead over market expectations , Deutsche Bank concludes.

Bernstein, however, is cautious: "Short-term momentum may be in Kering's favor, but with fewer upside catalysts ahead, we remain cautious about the current risk-reward balance," the broker states. Equita, which has a hold rating with a target price raised to €270, highlights the above-expected revenue and management's confidence in maintaining similar trends in the fourth quarter, despite a more challenging comparison with the previous year. Equita raised its revenue and EBIT/net profit estimates for the year by approximately 1% and confirms its growth expectations for the coming years. "The sequential improvement above the comparison base, particularly for Gucci, is encouraging, but we believe it is largely already reflected in the stock's strong performance," the analysts conclude.