Kering : Moderate pick-up in growth, profitability exceeds expectations
>Group two-year growth in Q2 of 11%, H1 EBIT nevertheless beat forecasts by +7-8% - The group’s sales came in around 2% above our estimates and the consensus for Q2 (total Q2 sales of € 4,157m, we expected € 4,062m) and the gap was 2.5% in Gucci sales (€ 2,311m vs € 2,251m), with two-year growth showing a moderate sequential acceleration. It increased from +6% in Q1 to 11% in Q2 for Kering as a whole (it was +10% for Kering Luxury, with the strong growth of the optic...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.
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