Kering : The first of sector leaders to talk: limited fall in Q1; Q2 likely to be worse, we slash our estimates in line with our sector scenario
>Q1 sales down -15%, pretty flattering in relative terms but the next few weeks will be particularly tough - Kering announced on Friday evening that it now expects sales to be down -15% like-for-like in Q1 2020, a strong impact in Q2 from store closures in Europe and the US (and the halt in tourism) and a fall in the operating margin in H1, which is still impossible to precisely quantify, while the group has introduced more systematic measures to control costs and the...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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