Kering : Sales down sharply again in Q2, H2 earnings set to post another significant decline, fresh reset for our estimates
>H1 results come in 1% below expectations, not really a surprise - The group’s H1 sales came to € 9,018m with recurring EBIT of € 1,582m. These figures are 1% below our estimates (respectively € 9,123m and € 1,597m) and the Visible Alpha consensus (€ 9,128m and € 1,602m). The group’s sales in Q2 were down 11% y-o-y at constant exchange rates after -10% in Q1 (we looked for -9%), with total retail sales falling 12% after -11% in Q1. The trends by geographical region ...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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