Kering : Respectable interim results but Gucci continues to lag behind
>Group sales in Q2 up +12% y-o-y cc, H1 EBIT up +5% beating forecasts but Gucci up by only +4% in Q2 - For H1 the group has published sales of € 9,930m (of which € 4,973m for Q2 alone, i.e. organic growth of +12% y-o-y, it was +21% in Q1) and EBIT of € 2,820m (a margin of 28.4% vs 27.8% in H1 last year). We had forecast € 9,724m (Q2: € 4,768m, i.e. org. growth of +8.5%) and EBIT of € 2,691m (margin of 27.7%) and the consensus compiled by the group pre-publication at €...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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