Q1 2023 Kering SA Corporate Sales Call Transcript
Welcome to the Kering First Quarter Revenue Conference Call and Webcast. Please be advised that today's conference is being recorded. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Jean-Marc Duplaix, Chief Financial Officer. Please go ahead, sir.
Good evening to all of you, and welcome to Kering's 2023 first quarter revenue call.
Starting on Slide 4. Our revenue reached EUR 5.1 billion this quarter, up 2% reported and 1% comparable. Retail fueled our comparable growth. And all our houses contributed to the positive trend in our store network.
Wholesale was down double digit as we pursue and in some cases, intensify the rationalization of this channel to tighten control over distribution. FX was broadly neutral with scope a 2 percentage point boost from the consolidation of Maui Jim.
So even if we set aside the drag from wholesale, it was a soft quarter. On a brighter note, retail sales improved at every one of our houses month after month.
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