Kering : End-2022 best forgotten, fairly reassuring stance but Gucci debate still there
>A very poor Q4 and FY margin off by more than expected: Gucci and Balenciaga suffered at the end of the year - Kering reported FY22 sales of € 20.351bn and EBIT of € 5.589bn, or a margin of 27.5% vs 28.4% in FY21. We expected respectively € 20.588bn and € 5.758bn (margin of 28.0%) and the company-compiled consensus was at respectively € 20.601bn and € 5.753bn (margin 27.9%). The gap is slightly negative on sales but nonetheless stands at -3% on EBIT, showing a sharpe...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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