Kering : Welcome news from H1 margins, Q2 sales in line. Momentum in organic growth now the question...
>Q2 sales growth of 31.5%cc, in line with the consensus and underlying EBIT 3% above. Gucci at +40.1%cc (vs. +42%cc expected), EBIT margin at 38.2%. - Kering has reported Q2 2018 sales (€ 3.326bn, +31.5%cc) in line with the consensus, while underlying EBIT (€ 1.772bn, 27.5% margin, +510bp) was 3% ahead.By brand in Q2/H1 2018:Gucci (Q2 sales: € 1.986bn, +40.1%cc, 1% below our estimates/H1 underlying EBIT: € 1.471bn, margin of 38.2%, +610bp, 3% ahead of our es...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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