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โข Q2 revenue: โฌ3.65B (+2% comparable)
โข H1 revenue: โฌ7.22B (+1% comparable)
โข Recurring operating income: โฌ921M
โข Recurring operating margin: 12.8% (+40 bps)
โข Net debt reduced to โฌ3.3B (down โฌ4.7B vs. year-end 2025)
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โข Targets a return to sustainable revenue growth and improved profitability in 2026
โข All key execution initiatives remain on track or ahead of plan
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โข Gucci Q2 comparable sales -2%, improving 7 percentage points sequentially as new collections gained traction
โข Jewelry (+18% comparable) and Eyewear (+8%) remained standout growth businesses, while Saint Laurent and Bottega Veneta continued to accelerate
โข Generated โฌ2.6B of free cash flow (โฌ1.8B excluding one-offs) and completed 84 net store closures as part of network optimization
โข Signed a new 50-year Gucci Beauty licensing agreement with L'Orรฉal and continued executing its transformation plan
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"Kering delivered improved performance in the second quarter, with revenue returning to growth... We are focused on delivering our roadmap with discipline and consistency, creating the foundations for sustainable growth and long-term value creation."