|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||56.49 - 57.00|
|52 Week Range||40.43 - 63.18|
|Beta (3Y Monthly)||0.61|
|PE Ratio (TTM)||18.57|
|Forward Dividend & Yield||1.18 (2.02%)|
|1y Target Est||N/A|
Kering, the French fashion group whose brands include Gucci and Saint Laurent, said it would only work with models aged over 18, as the fashion industry aims to tighten up its ethical guidelines. Kering said on Wednesday that from 2020 onwards, it would only hire models aged over 18 to represent adults and wear its adult clothing at its fashion shows and photo sessions. "We believe that we have a responsibility to put forward the best possible practices in the luxury sector and we hope to create a movement that will encourage others to follow suit,” said Kering's chairman and chief executive François-Henri Pinault.
PARIS (Reuters) - French fashion group Kering, whose brands include Gucci and Saint Laurent, said it had set out internal guidelines for dealing with the welfare of animals, as fashion companies look to ...
MILAN/Paris (Reuters) - French luxury goods group Kering said on Thursday it had agreed to pay a record 1.25 billion euros ($1.40 billion) to settle a dispute with Italian tax authorities centred on its fashion brand Gucci. The settlement, first reported by Reuters last month, is the highest ever agreed by a company with Italian tax authorities. Kering, which has denied avoiding tax, has a cash pile estimated by analysts at more than 10 billion euros, meaning it was equipped to absorb the cost.
French luxury group Kering, the parent company of Gucci, said it will pay a total of €1.25bn to settle with the Italian tax authorities, which claimed that Kering’s Swiss subsidiary failed to pay taxes that were due in Italy. Kering, which also owns Saint Laurent and Bottega Veneta, said in a statement on Thursday the settlement will involve the payment of €897m in additional taxes, along with further payment for penalties and interest. Flavio Cereda, analyst at Jefferies, said the total amount of the settlement was higher than expected.
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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.
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).
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...
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.
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...