Kering : Decent interim results in the circumstances, Gucci relative performance down nonetheless
>Q2 sales and H1 2020 results moderately beat the consensus, margins showed very decent resilience - Organic growth in sales in the end came to -44% (cf. tables below), which was better than our generally conservative estimate (-50%) and even slightly better than the consensus (-47%). Like the industry as a whole, the group benefited from the good trend in local consumption in China, which partly cushioned the effect of the lockdowns everywhere else (retail sales in C...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.