In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week, we look at how Trump's trade war is negatively impacting US consumer sentiment. Happ
The FY25 outlook unveiled yesterday shows greater visibility on the margin improvement trajectory, thanks to further sourcing efficiencies and disciplined cost control. However, sales trends remain more volatile, as evidenced by a MSD decline in the first two months of 2025 following a strong Q4. W
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: FERROVIAL, INDRA. EUROPA: BMW, KERING. Trump insiste con los aranceles Sesión de caídas en los mercados, arrastradas por nuevas amenazas de D. Trump en materia arancelaria y el posible cierre parcial del Gobierno. El Ibex fue el único índice de la Eurozona que cerró con ganancias. En el STOXX 600, casi todos los sectores terminaron con caídas (14/20) lideradas por Autos e Industriales frente al mejor comportamiento de Telecos y R. Básicos. Por el la...
Kering: Demna appointed Artistic Director of Gucci PRESS RELEASE March 13, 2025 DEMNA APPOINTED ARTISTIC DIRECTOR OF GUCCI Kering and Gucci are delighted to announce the appointment of Demna as the House’s new Artistic Director, starting early July 2025. Demna, Artistic Director of Balenciaga since 2015, has redefined modern luxury, earning global recognition and cementing his authority on the industry. François-Henri Pinault, Chairman & CEO of Kering, stated: “Demna's contribution to the industry, to Balenciaga, and to the Group's success has been tremendous. His creativ...
Kering : Demna nommé Directeur Artistique de Gucci COMMUNIQUÉ DE PRESSE 13 mars 2025 DEMNA NOMMÉ DIRECTEUR ARTISTIQUE DE GUCCI Kering et Gucci ont le plaisir d'annoncer la nomination de Demna au poste de Directeur Artistique de la Maison à compter de début juillet 2025. Directeur Artistique de Balenciaga depuis 2015, Demna a redéfini les codes du luxe moderne, obtenant une reconnaissance mondiale et affirmant son influence dans la mode. François-Henri Pinault, Président-Directeur général de Kering, a déclaré : « Ce que Demna a apporté à la mode, à Balenciaga et au succès d...
Hugo Boss has reported FY24 results this morning: Q4 sales surprised positively with a 4% beat, driven by a strong year-end in both EMEA and the Americas, while EBIT was bang in line with expectations at EUR126m. Unsurprisingly, given the volatile macro environment, the FY25 outlook is quite cautio
Whereas the slowdown in current trading was clearly more abrupt than expected, we believe this hiccup is temporary, as shown by the rebound in the first week of March to +7%. The latter is more consistent with our scenario of normalising sales trends towards 7% FX-n growth over the FY25-27 period,
For the fourth year in a row, Inditex achieved double-digit FX-n sales growth with +10.5% in FY24 with EBIT margin improving by 70bps to a new record level of 19.6%. FY24 total dividend amounted to EUR1.68 and matched expectations. Note that Inditex's current trading only increased by 4% FX-n, part
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