|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||525.40 - 532.80|
|52 Week Range||351.70 - 539.80|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||17.95|
|Earnings Date||Jul 25, 2019|
|Forward Dividend & Yield||10.50 (2.05%)|
|1y Target Est||524.67|
French luxury group Kering is close to agreeing to pay between 1.3 billion (1.1 billion pounds) and 1.4 billion euros to settle a dispute with Italian authorities over unpaid taxes by its fashion brand Gucci, three sources told Reuters on Thursday. An agreement between the group and the Italian tax authority is expected to be signed in the first few days of May, said one of the sources, who all have direct knowledge of the matter. This would be the biggest tax settlement ever agreed by a company with the Italian tax authorities.
French luxury group Kering is close to agreeing to pay between 1.3 billion and 1.4 billion euros ($1.5-1.6 billion) to settle a dispute with Italian authorities over unpaid taxes by its fashion brand Gucci, three sources told Reuters on Thursday. An agreement between the group and the Italian tax authority is expected to be signed in the first few days of May, said one of the sources, who all have direct knowledge of the matter. This would be the biggest tax settlement ever agreed by a company with the Italian tax authorities.
* (There will be no European stock market report on Friday and Monday on account of Easter holidays. April 18 (Reuters) - European shares ended higher on Thursday as short covering kicked in ahead of a long Easter weekend and strong quarterly results including those from Unilever and Nestle tempered data showing euro zone businesses unexpectedly slowed this month. The pan-European STOXX 600 index rose for a seventh straight session, its best winning streak since early February with Germany's DAX closing at six-month highs, while London's FTSE 100 fell, dragged by healthcare stocks.
The Stoxx Europe 600 Index rose 0.2 percent on the last of trading until Tuesday, with Nestle and Unilever the biggest advancers. Unilever sales beat analyst estimates, helped by strong performance in the company’s home-care business. Analysts in the monthly Bloomberg survey doubt that the rally in European equities can keep going as they see the Stoxx Europe 600 Index losing 8.9 percent from Wednesday’s close to 355 points by year-end.
Kering (PRTP.PA) shares retreated sharply on Thursday after signs of slowing growth at the French luxury group's Gucci brand, particularly in the United States. Analysts honed in on Gucci's performance as one of the main reasons for the share price drop, after Kering's first-quarter update released after Wednesday's market close showed U.S. growth cooling at Gucci, which accounts for some 60 percent of group sales. Gucci, with annual sales surpassing 8 billion euros ($9 billion), has outperformed most of its peers in the past two years thanks to a flamboyant revamp under designer Alessandro Michele.
Strong demand for Gucci's flamboyant designs and handbags helped parent Kering beat first-quarter revenue forecasts on Wednesday, even as the pace of growth at the Italian fashion label cools from the explosive levels of the last two years. Kering, which also owns Saint Laurent and Balenciaga, relies heavily on Gucci for the bulk of its sales and profits, drawing scrutiny over whether it can keep up momentum at the label following its revamp under designer Alessandro Michele. The group, run by billionaire boss Francois-Henri Pinault, has said Gucci will naturally expand at a less breakneck pace over time after it more than doubled in size over the past four years, with annual sales reaching more than 8 billion euros ($9 billion).
French luxury group Kering said its star brand Gucci continued to drive performance in the first three months of the year, as the group recorded sales in line with analyst estimates. Kering said on Wednesday after market close that, stripping out the impact of currencies and acquisitions, revenues grew 17.5 per cent during the first quarter to €3.79bn. Following a tougher comparison with the previous year, sales at Kering’s profit engine Gucci grew 20 per cent in the first three months of the year to €2.33bn.
Our call of the day, from a team of UBS strategists, says investors have been too negative when it comes to global growth expectations, and that’s good news for equities.
Let's talk about the popular Kering SA (EPA:KER). The company's shares received a lot of attention from a substantial price increase on the ENXTPA over the last few months...
FT subscribers can click here to receive FirstFT every day by email. President Emmanuel Macron vowed to rebuild Notre-Dame cathedral after the Paris landmark was partly destroyed by a devastating fire. Donations from some of France’s richest families poured in to help reconstruct one of the world’s best known and most visited monuments. The Arnault family, owner of luxury group LVMH, pledged €200m, while the Pinaults, who control the Kering conglomerate, said they would give €100m to the restoration efforts.
Two of France's richest people have pledged 300 million euros ($338.7 million) collectively to rebuild the Notre Dame Cathedral in Paris, which was severely damaged in a fire Monday night. François-Henri Pinault, whose Artemis holding company owns a controlling stake in luxury group Kering KER-FR , pledged 100 million euros, while Bernard Arnault , chair of LVMH MC-FR , gave 200 million euros. Kering owns labels such as Gucci, Saint Laurent and Alexander McQueen, while LVMH's star brands include Louis Vuitton, Christian Dior and Moet & Chandon champagne.
after the roof of the Paris landmark was destroyed by fire and President Emmanuel Macron vowed to rebuild what he called “epicentre of our life”. Mr Macron on Tuesday said he wanted the church, ravaged by fire on Monday night, to be rebuilt within five years. “We will rebuild the cathedral of Notre-Dame and make it even more beautiful than before and I want this to be completed within five years,” he said in a five-minute televised address to the nation.
The Pinaults, owner of the luxury conglomerate Kering, pledged €100m from the family holding company Artemis on Monday evening before the fire was even out. “Faced with such a tragedy, everyone wishes to restore life to this jewel of our heritage,” said François-Henri Pinault, chairman and chief executive of Kering.
Apple and luxury labels such as Gucci have lowered their prices in China after a cut in its value-added tax (VAT) rate came into effect from April 1. Price tags for products listed on Apple's China website were lowered on Monday, including a discount of up to 500 yuan ($74.44) for some of its latest iPhone models. Apple declined to comment on its prices.
The latest earnings release Kering SA's (EPA:KER) announced in December 2018 signalled that the business experienced a strong tailwind, leading to a high double-digit earnings growth of 57%. Below isRead More...
Want to participate in a short research study? Help shape the future of investing tools and receive a $20 prize! With a market capitalization of €60b, Kering SA (EPA:KER) isRead More...