Kering's Gucci brand ends collaboration with designer Sabato De Sarno
Gucci-owner Kering on Thursday announced it would end its work with creative director Sabato de Sarno at its Italian flagship label, the latest high-profile designer change as the luxury industry grapples with a slowdown.
Kering: The End Of The Meltdown May Be Near
Kering's stock has plummeted 72% since August 2021, driven by macroeconomic issues in China and Europe and high CapEx investments. Despite current struggles, PPRUF's investments in Valentino and Creed aim to reduce dependence on Gucci and foster long-term growth. The Chinese real estate crisis is a significant concern, but government stimulus and long-term economic recovery are expected to benefit the Company.
FL or PPRUY: Which Is the Better Value Stock Right Now?
Investors looking for stocks in the Retail - Apparel and Shoes sector might want to consider either Foot Locker (FL) or Kering SA (PPRUY). But which of these two stocks offers value investors a better bang for their buck right now?
Kering: A Falling Knife If I've Ever Seen One
Kering's third-quarter report shows worsening trends, with revenues down 15% Y/Y and broad-based deceleration across key brands. Kering struggles with direct-to-consumer channels, unlike peers, and faces sharp declines in Japan and Asia Pacific, despite potential China stimulus. The luxury sector faces fatigue and macroeconomic challenges; Kering lacks iconic, time-transcendent products to drive a turnaround.
Gucci Has Problems. The Biggest May Be a Safe New Look
The Italian brand's owner, Kering, issued its third profit warning in a row as demand for a toned-down Gucci disappoint.
Gucci-owner Kering makes drastic cut to full-year forecasts
Gucci-owner Kering SA (EPA:KER) has made a substantial cut to its full-year income forecasts following a disappointing third quarter. Gucci's year-on-year revenue plummeted 26% in the quarter, driven predominantly by persistently soft China demand.
Things aren't looking great at Gucci, and Kering says its APAC slump is to blame
Gucci had a challenging third quarter partly due to its APAC slump, per Kering's latest earnings call. The Italian luxury brand's sales dropped 25% this quarter compared to the previous year.
Kering shares up, shrugging off 2024 operating profit warning
Shares in Gucci-owner Kering rose on Thursday, shrugging off the French luxury goods company's warning that 2024 operating income would almost halve to its lowest in years due to weak demand in China.
Kering SA (PPRUF) Q3 2024 Revenue Call Transcript
Kering SA (OTCPK:PPRUF) Q3 2024 Revenue Conference Call October 23, 2024 12:00 PM ET Company Participants Armelle Poulou - Chief Financial Officer Claire Roblet - Director, Financial Communications and Market Intelligence Conference Call Participants Aurelie Husson-Dumoutier - HSBC Ben Rada Martin - Goldman Sachs Olivier Chen - TD Cowen Zuzanna Pusz - UBS Luca Solca - Bernstein Edouard Aubin - Morgan Stanley Charles-Louis Scotti - Kepler Cheuvreux Antoine Belge - BNP Exane Thomas Chauvet - Citi James Grzinic - Jefferies Carole Madjo - Barclays Paola Carboni - Equita SIM Operator Welcome to the Kering 2024 Third Quarter Revenue Conference Call and Webcast. Please be advised that today's conference is being recorded.
Gucci Owner Kering Misses Sales Views Amid Brand Revamp Challenges, Asia Woes
The French luxury group posted revenue below analysts' expectations in the third quarter as a slump in demand for luxury goods in the Asia-Pacific region continue to weigh on its star brand, Gucci.
Kering: History Suggests A Big Turnaround Is Around The Corner
Kering's stock is undervalued, with potential for significant gains due to its historically low valuation multiples and expected recovery in free cash flow. The stock chart shows recovery potential as well. Gucci, Kering's largest segment, has faced cyclical downturns before but has historically rebounded; current efforts include product innovation and leadership changes. Stimulus measures in China and global interest rate cuts may boost Kering's revenue.
French luxury goods company Kering names Stefano Cantino as CEO of Gucci
French luxury goods company Kering named Stefano Cantino as CEO of Gucci, with Cantino succeeding Jean-Francois Palus next January.
