Kering : A surprise on Valentino but group growth remained weak in Q2 and the outlook for Gucci appears uncertain
>H1 results in line but growth remained very weak in Q2 and Gucci’s performance at +1% showed no signs of improvement over the quarter - For H1, Kering reported sales of € 10,135m, up +2% y-o-y, i.e. +2% cc (reflecting Q2 sales +3% y-o-y at cc) and group EBIT was € 2,739m, i.e. a margin of 27% (vs 28.4% in H2 2022). Our forecasts stood at € 10,140m for H1 sales (i.e. organic growth in Q2 of +3%) and € 2,724m for EBIT (margin at 26.9%), the company-compiled consensus w...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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