However,
Kering -le ca falls 15%:
KERING IN ANNUAL SHAREHOLDERS MEETING
Kering reported Tuesday of a 15% drop in comparable data from his turnover in the second quarter, weighed down in particular by the poor performance of his flagship brand in difficulty, Gucci. Moreover,
The turnover over the period fell to 3.7 billion euros against 4.5 billion at the same period a year earlier. However, Analysts were tabling on a fall in sales of 13% according to a visible alpha consensus quoted by UBS. However,
Gucci sales, which reached 1.46 billion, accuse 25% in comparable. Moreover,
Throughout the first half, Kering’s current operating profit drops from 39% to 969 million euros.
“If the published results kering -le ca falls 15% are still well below our potential, (…) The efforts made for two years have made it possible to lay solid bases. ” said Kering François-Henri Pinault CEO in a press release, citing “a particularly demanding market context”.
Kering. whose action has lost 60% of its value in two years, announced last month the arrival of the ex-boss of Renault Luca de Meo at the head of the group, in order to relaunch his activity and in particular rectify Gucci.
Kering is also under pressure in the United States. where he recorded more than 20% of his sales, after the new trade agreement concluded between Brussels and Washington which bears the American customs duties on European exports at 15%.
“The impact of customs duties for us remains completely manageable,” said financial director Armelle Poulou during a press conference.
Kering brands have already increased kering -le ca falls 15% their prices worldwide. more particularly in the United States, where the group adopts a measured approach while closely monitoring the feeling of consumers, said Armelle Poulou.
“We are also aware of the feeling of the consumer. could possibly consider a second wave of adjustments in the fall,” she added.
Kering announced that he had reduced his net debt to 9.5 billion euros to the end of June against 10.5 billion at the end of 2024, largely thanks to transfers of real estate.
(Written by Augustin Turpin, with Tassilo Hummel, edited by Blandine Hénault)
Kering -le ca falls 15%
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