Core Insights - Kering Group reported a surprise in its third-quarter earnings, with sales performance exceeding Wall Street expectations despite a year-on-year decline [1] - The company's revenue for Q3 was approximately €3.42 billion, down about 10% year-on-year, but slightly above analyst expectations of €3.31 billion [1] - Same-store sales decreased by 5% in Q3, a significant improvement compared to a 15% decline in Q2, indicating a slowdown in the downward trend [1] Group Performance - Gucci: Q3 revenue was €1.342 billion, down 18% year-on-year, with same-store sales declining 14%, slightly better than the expected 15% drop [3] - Yves Saint Laurent: Q3 revenue was €620 million, down 7% year-on-year, with same-store sales down 4% [3] - Bottega Veneta: Q3 revenue was €393 million, down 1% year-on-year, with same-store sales increasing by 3% [3] Management Commentary - Kering's new CEO, Luca de Meo, noted a significant improvement in Q3 performance compared to Q2, although the overall results remain below market averages [1] - CFO Armelle Poulou expressed satisfaction with the recent creative direction changes at Gucci, which may help improve sales [2]