Kering Delivers Strong Q4 Results; Shares Overvalued
Wide-moat Kering posted another solid performance in the fourth quarter, driven by luxury brands Gucci and Yves Saint Laurent, as well as Puma in the sport segment. We do not plan to make a change to our EUR 194 fair value estimate, and we reiterate our wide economic moat rating, which is mostly underpinned by brand intangible assets. We regard the shares as overvalued.Top-line growth for the full year came in at 6.9% to reach EUR 12.39 billion, or 8.1% on a comparable basis. This was slightly ...
Kering is engaged in the retail industry, particularly luxury fashion brands. Co.'s operations can be divided into two segments: Luxury and Sport & Lifestyle divisions. The Luxury division includes brands such as Gucci, Bottega Veneta, Yves Saint Laurent, Balenciaga, Boucheron, Sergio Rossi, Alexander McQueen, Girard-Perregaux & JeanRichard, & Stella McCartney. In addition, Co. offers Leather Goods, Shoes, Ready-to-wear, Watches, and Jewelry & Other products. The Sport & Lifestyle division designs & develops footwear, apparel & accessories and includes brands like Puma, Volcom and Electric among others.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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