Kering Q1 Sales Drop, Anta Releases ESG Report and Baidu Unveils New AI Models
Kering Q1 Sales Miss Estimates as Gucci Performance Declines Further
Kering reported a 14 percent drop in Q1 sales, with Gucci revenue down 25 percent, both below analyst expectations. Executives flagged cost-cutting efforts, including possible job reductions and store closures. Gucci continues to face lower store traffic and delayed turnaround efforts, despite a new design chief appointment. Sales declined in both North America and Western Europe, adding pressure on the group amid broader luxury sector challenges.
Proya Reports Steady Revenue and Profit Growth in Q1 2025
In Q1 2025, Proya posted RMB 2.359 billion in revenue, up 8.13 percent year-on-year. Net profit attributable to shareholders rose 28.87 percent to RMB 390 million, with non-recurring profit also increasing. Basic earnings per share reached RMB 0.99. Operating cash flow grew 56.78 percent to RMB 675 million. While inventory rose and R&D spending declined, the company maintained stable cost control and continued investments.
Anta Releases 10th Consecutive ESG Report
On April 22, Chinese sportswear company Anta Group released its tenth annual ESG report. In 2024, over 30 percent of its products were made with sustainable materials. The company achieved 100 percent LWG Gold certification for leather suppliers, with 99 percent leather traceability. Sustainable packaging usage reached 36 percent, and over 90 percent of garment plastic bags used sustainable PE. Its carbon reduction targets were validated by SBTi. Anta also conducted 786 ESG audits across its supply chain.
EssilorLuxottica Reports 7.3 Percent Revenue Growth in Q1 2025
Ray-Ban parent company EssilorLuxottica recorded 6.85 billion euros in revenue in Q1 2025, up 7.3 percent year-on-year at constant exchange rates. Growth was seen across all regions, with EMEA up 10 percent, North America up 4 percent, and Asia-Pacific in double digits. Ray-Ban Meta and Stellest products contributed to strong performance. The company also launched Nuance Audio in France, following rollouts in the U.S. and Italy.
Baidu Unveils New AI Models
Baidu has introduced two new AI models—Ernie 4.5 Turbo and the reasoning-focused Ernie X1 Turbo—as it expands its AI capabilities. The launch reflects the company’s ongoing efforts to strengthen its position in China’s competitive artificial intelligence market.
Skechers Reports Record Q1 Sales
Skechers reported record Q1 2025 revenue of $2.41 billion, up 7.1 percent year-over-year, driven by strong wholesale and DTC performance. EMEA sales rose 14 percent, while Americas increased 8 percent. APAC declined 3 percent, though excluding China, sales rose 12 percent. Net income dipped slightly to $202.4 million. The company withdrew its full-year guidance due to global trade policy uncertainty.
P&G Reports Q3 Sales as Tariff Concerns Weigh on Supply Chain
Procter & Gamble reported Q3 net sales of $19.78 billion, down 2 percent year-over-year and below analysts’ expectations of $20.11 billion. Core EPS was $1.54, in line with forecasts, while adjusted free cash flow came in at $2.85 billion versus an expected $3.69 billion. The company noted reduced U.S. consumer spending in February and March. A 1 percent price increase was offset by a 1 percent drop in sales volume. Tariff-related costs and supply chain pressures may lead to further pricing adjustments.
Adidas Reports Q1 Profit and Sales Above Forecasts
Adidas reported a first-quarter operating profit of 610 million euros, up 82 percent year-on-year and above analyst expectations. Sales rose 13 percent to 6.15 billion euros, supported by strong demand for models like Samba and Gazelle. Excluding prior Yeezy sales, Adidas brand revenue grew 17 percent. The company continues to gain market share globally across all regions and channels.
