Report
Jean Danjou

Kering : La croissance repart modérément, la profitabilité est au rendez vous

>Croissance 2 ans groupe au T2 à 11%, l’EBIT S1 bat les attentes de tout de même +7%/+8% - Le groupe sort c. 2% au-dessus de nos attentes et de celles du consensus sur le CA T2 (CA T2 total à 4 157 M€, nous attendions 4 062 M€) et l’écart est de 2.5% sur le CA Gucci (2 311 M€ contre 2 251 M€) et on assiste bien à une accélération séquentielle modérée de la croissance à deux ans. Elle passe de +6% au T1 à 11% au T2 pour Kering dans son ensemble (c’est +10% sur Kerin...
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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