Kering : Stronger fall in sales and earnings in H2, end of the tunnel not yet in sight
>Q3 sales around 5% below expectations at -16% y-o-y at CER with Gucci down -25% - Q3 sales missed expectations at € 3,786m: we looked for € 3,917m and the company-compiled consensus was for € 3,968m. Sales showed a steeper organic decline of -16% in Q3 after -11% in Q2 , our estimate was for -12.7%. Retail sales were down by 17% versus -12% in Q2 with still-large declines in North America (-15% after -11% in Q2) and in Europe (-11% after -8% in Q2), an even more pr...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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