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Kering Group's stock price falls, and the company expects a sharp decline in profits in the first half of the year
Kering's stock price fell, and the luxury goods company warned that profits would drop sharply in the first half of the year as the crisis of its biggest brand, Gucci (Gucci), deepens. The company's stock price fell 8.9% in early Paris trading, to its lowest level since 2018. It has already fallen 20% this year, while rival LVMH and Hermès stock prices have risen. Kering Group announced on Tuesday that recurring operating profit is expected to drop by 40% to 45% in the first six months of this year. Gucci's comparable sales fell 18% in the first quarter due to weak demand. Gucci accounts for more than two-thirds of Kering Group's operating profits. on
環球市場播報03:29 ET
Hermès Q1 Financial Outlook: Anticipated Revenue Growth to Slow, Early Signs of Luxury Market Chill Emerge
The renowned luxury brand
Senorita EarningsApr 23 08:50 ET
European stock markets rose LVMH and Adidas helped offset the impact of falling tech stocks
The European stock market closed slightly higher on Wednesday. LVMH's performance figures are reassuring. Adidas soared, driven by profit expectations, offsetting the sharp decline in technology stocks. The Stoxx Europe 600 Index recovered earlier gains and closed up 0.2%. Luxury stocks such as Hermès, Burberry, and Richemont Group rose. Previously, LVMH's profit figures allayed concerns about demand for luxury goods. Asos Plc surged, and the online fashion retailer expects its profits to grow in the next fiscal year. Technology stocks fell 2.6%. The order data previously released by Asmack Holdings fell short of expectations, dragging down ASM Int
環球市場播報Apr 17 14:55 ET
Hermès Continues to Invest in Employment and Production Capacity With the Laying of the First Stone for the Maroquinerie De L'Isle D'Espagnac Leather Goods Workshop in Charente
HermèsApr 5 00:00 ET
2023 Universal Registration Document (2023 URD, Including the Annual Financial Report)
HermèsMar 26 18:00 ET
Hermès International: Availability of the 2023 Universal Registration Document
Yahoo FinanceMar 26 13:00 ET
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