|Bid||151.00 x 2500|
|Ask||0.00 x 4200|
|Day's Range||479.30 - 487.10|
|52 Week Range||268.75 - 487.10|
|PE Ratio (TTM)||34.30|
|Forward Dividend & Yield||6.00 (1.36%)|
|1y Target Est||N/A|
A year ago LVMH, the owner of luxury brand Louis Vuitton, became France’s biggest company by market value, a mantle energy giant Total SA and drugmaker Sanofi SA had shared for almost a decade. Kering SA was nowhere in sight. A more than 200 percent rally since the start of 2016, and more than 70 percent over the past 12 months, has now put the owner of “it bag” brands within shouting distance of the top five stocks in the CAC 40 Index.
The thriller starring Javier Bardem and Penelope Cruz bears an apt phrase for the first edition of the star-studded festival since allegations of rape and harassment by the producer Harvey Weinstein emerged last fall. During the nearly 25 years since the Weinstein-produced “Pulp Fiction” took home Cannes’s Palme d’Or grand prize, the producer became a towering figure at the festival as he turned independent films into commercial hits.
French luxury group Kering (PRTP.PA) continued to collaborate with an Italian tax investigation into its Gucci brand, Chairman Francois-Henri Pinault told shareholders on Thursday, adding the company had not been notified of the sums under scrutiny. "The governance that we have put in place aims to make us totally compliant with fiscal regulations in every country in which we operate," Pinault said at Kering's annual shareholder meeting. Asked how much the group could be liable for as part of the Italian probe, Pinault said that neither Gucci nor Kering had been notified by Italian authorities of what slice of revenues were being examined for irregularities.
The US retail industry is going through an upheaval. Right now, store closures across the country are on pace to set a record in terms of how much square footage will shut down this year. But circumstances aren’t dire for everyone. Kering, one of Europe’s leading luxury groups, is off to an astounding start in…
Worries over rising bond yields and falling metals prices trumped well-received earnings updates from Kering and Credit Suisse on Wednesday, sending European shares to a one-week low. Concern remained over higher bond yields after the yield on the U.S. 10-year Treasury breached 3 percent level on Tuesday, making equities relatively less attractive. Caterpillar's results drove European industrials, after the company said it would steel tariffs would make it harder to pass on higher raw-material costs.
Credit Suisse shares rally after earningsVCG via Customers wait outside Gucci Store in Shanghai. Investors shoved European stocks lower Wednesday in the wake of a selloff on Wall Street where equities were spooked by rising bond yields and mixed earnings reports. Germany’s DAX 30 index (^GDAXI) was the worst performing among the major national indexes.
Booming sales growth at French luxury group Kering got even faster in the first quarter, sending its shares to record highs, as red-hot demand for its Gucci clothing and handbags was joined by other labels such as Balenciaga. A recovery in spending by Chinese shoppers over the past 18 months has fuelled revenue rises for many top luxury players, especially conglomerates such as Kering and LVMH which have a wide range of brands. Kering's biggest label Gucci continued to defy expectations of a slowdown.
Booming sales growth at French luxury group Kering (PRTP.PA) got even faster in the first quarter, sending its shares to record highs, as red-hot demand for its Gucci clothing and handbags was joined by other labels such as Balenciaga. Kering shares surged early on Wednesday, and were up 6.7 percent at 0750 GMT, as the group's sales bounce confirmed a rosy outlook for 2018 heralded by a strong first quarter performance at Louis Vuitton-owner LVMH (LVMH.PA). A recovery in spending by Chinese shoppers over the past 18 months has fuelled revenue rises for many top luxury players, especially conglomerates such as Kering and LVMH which have a wide range of brands.
European shares declined on Wednesday in early deals as worries over rising bond yields trumped a slew of well-received earnings updates from Kering and Credit Suisse, while Shire bounced after accepting an improved offer from Takeda. In M&A news, shares in Shire popped 1.4 percent after saying that it would recommend Takeda's sweetened $64 billion bid offer to shareholders.
Kering (PRTP.PA) shares rose to record highs on Wednesday after booming first quarter sales growth at the French luxury company, as red-hot demand for its Gucci clothing and handbags was joined by other labels such as Balenciaga. Kering shares were up 5.7 percent at around 464 euros in early session trading, touching new record highs. Kering's revenue rise confirmed a rosy outlook for the start of the year for the luxury sector, after Louis Vuitton owner LVMH (LVMH.PA) also posted a surge in sales in the first quarter, fuelled by undiminised demand from Chinese consumers.
Gucci continued to ring up sales in its latest quarter on the strength of its name in the U.S. Sales in North America led the way, rising 64%, Kering, Gucci’s corporate parent, said.
Booming sales growth at French luxury group Kering (PRTP.PA) got even faster in the first quarter, as red-hot demand for its Gucci clothing and handbags was joined by other labels such as Balenciaga. A recovery in spending by Chinese shoppers over the past 18 months has underpinned a sales bounce for many top luxury players, especially conglomerates like Kering and Paris-based rival LVMH (LVMH.PA) with range of brands. "Throughout the year there should be a progressive normalisation," Chief Finance Officer Jean-Marc Duplaix told journalists on Tuesday, adding the pace of sales growth at Gucci would nevertheless remain very high.
Kering SA’s white-hot Gucci brand kept up its relentless growth pace at the start of the year, with online sales more than doubling in the first quarter.
The latest earnings announcement Kering SA’s (ENXTPA:KER) released in December 2017 indicated that the company gained from a significant tailwind, more than doubling its earnings from the prior year. InvestorsRead More...
Moody's Investors Service, ("Moody's") has today downgraded Safilo S.p.A.'s (Safilo) corporate family rating (CFR) to B1 from Ba3 and its probability of default rating (PDR) to B1-PD from Ba3-PD. ...
Designer Hedi Slimane won $11.5 million in a lawsuit against Kering SA, the owner of brands like Gucci, Balenciaga and Saint Laurent #tictocnews https://bloom.bg/2GDGI1z (Source: Bloomberg)
Kering is also preparing to spin off German sportswear brand Puma (PUMG.DE), which will leave it with brands ranging from Gucci to Yves Saint Laurent. It acquired Volcom in 2011 for $608 million. "In accordance with Kering's strategy to fully dedicate itself to the development of its luxury houses, Volcom no longer constitutes a core asset and Kering has initiated a disposal process," the group said in a statement.
Booming sales growth at French luxury group Kering got even faster in the first quarter, sending its shares to record highs, as red-hot demand for its Gucci clothing and handbags was joined by other labels such as Balenciaga. Silvia Antonioli reports