Kering : Solid demand in Q1 for all brands …except Gucci
>Robust organic growth Q1 at +21% but Gucci is well below at +13% - The group’s Q1 sales came in at € 4.956bn, or y-o-y growth in organic terms of c.+21% (+27% reported, forex effect at nearly +6 pts), while we saw € 4.66bn, or +16% organic, and the pre-announcement Visible Alpha consensus was for € 4.69bn (+17% organic). The figure was thus close to +6% above expectations. By geographic zone, retail sales (for all brands) accounted for 75% of total group sales (Kerin...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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