Outstanding Q3 Results at Gucci and YSL; Bottega Still Struggling; Shares Trading Close to FVE
We are raising our fair value estimate for Kering to EUR 194 from EUR 186 after upgrading our top-line estimates. Our updated full-year sales growth of 5.5% accounts for signs of robust growth at Gucci, Yves Saint Laurent, and sportswear Puma, offsetting further deterioration at Bottega Veneta. Our wide moat rating is unchanged, given Kering's portfolio of strong brands.ÂIn the quarter, group sales growth of 10.5% on a comparable basis was driven by the standout performance at Gucci (up 17% on ...
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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