Kering shares surged over 9% after Q3 sales decline narrowed to 5% on a comparable basis. The French luxury group reported sales of 3.42 billion euros ($3.97 billion), beating the 3.31 billion euros analysts expected. Gucci sales fell 14% YoY to 1.34 billion euros, marking sharp sequential improvement from Q2’s 25% plunge. CEO Luca de Meo acknowledged the performance “remains far below that of the market” but expressed determination to continue the turnaround. The results follow Kering’s announcement of the sale of its beauty unit to L’Oréal for $4.7 billion.