Creative DirectionThere is optimism for the creative and tasteful direction of Gucci and accelerating the release of three new handbag platforms in September is a key positive.
Market TrendsOctober is encouraging relative to 3Q with some potential stabilization in the US and China, and higher newness could be resonating with consumers.
Stock ValuationValuation looks supportive and may limit downside, especially on EV/sales, even though the stock is unlikely to outperform until positive revisions occur.