Report
Jean Danjou

Kering : Des semestriels décents vu le contexte, la performance relative de Gucci reste néanmoins en retrait

>Le CA T2 et les résultats S1 2020 battent modérément le consensus, les marges résistent très correctement - La croissance organique des ventes sur le T2 ressort finalement à -44% (cf. tableaux ci-après), c’est mieux que notre prévision plutôt conservatrice (-50%) et finit même légèrement au-dessus du consensus (-47%). Le groupe a bénéficié comme l’ensemble de l’industrie de la bonne tenue de la consommation locale en Chine qui a amorti pour partie l’effet des confine...
Underlying
Kering SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jean Danjou

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