Kering : No surprises from activity in Q4, resulting significant margin decline, a fresh start sought for Gucci
>Q4 sales lacklustre but under control at -4% cc, H2 EBIT margin duly down - At its full-year earnings publication, Kering reported 2023 sales of € 19,566m, -2% organic, and EBIT at € 4,746m, giving a margin of 24.3% (27.5% in 2022). We had forecast € 19,416m and € 4,843m respectively (margin at 24.9%) and the company-compiled consensus had indicated € 19,476m and € 4,839m (margin at 24.8%). Activity was very slightly above forecasts but the negative EBIT gap reached...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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