Report
Jean Danjou

Kering : T1 2021 au-dessus des attentes et finalement assez dynamique, Gucci reste encore en retrait

>CA T1 +8% au-dessus des attentes, en croissance de 5.5% par rapport au T1 2019 - Atteignant 3 890 M€ (+25.8% y/y en organique), le CA T1 de Kering dépasse de près de 8% nos attentes, voisines de celles du consensus, à 3 608 M€. Gucci à 2 168 M€ (+24.6% y/y org.) fait un petit mieux que prévu (nous attendions une croissance org y/y à 20% à 2 093 M€) mais l’écart favorable est nettement plus visible sur les autres divisions de Kering Luxe. Saint Laurent et Bottega Ven...
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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