|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||480.30 - 487.80|
|52 Week Range||348.55 - 614.90|
|Beta (5Y Monthly)||1.06|
|PE Ratio (TTM)||26.43|
|Earnings Date||Jul. 28, 2020|
|Forward Dividend & Yield||9.00 (1.89%)|
|Ex-Dividend Date||Jun. 23, 2020|
|1y Target Est||524.67|
The amendment to the 2019 Universal Registration Document was filed in French with the French Financial Markets Authority (AMF) on Thursday, April 30, 2020, under no D.20-0184-A01, as a result of the decisions taken by Kering’s Board of Directors on April 21, 2020.
Gucci sales were hit hard early in the coronavirus crisis due to the fashion group's reliance on Chinese customers, owner Kering <PRTP.PA> said on Tuesday, adding that it was premature to say how quickly China sales would rebound. The health crisis first hit China - a major market for high-end goods - late last year before spreading elsewhere, and several European countries, including Italy and France as well as the United States, have since gone into lockdown to try to cope. Kering sales fell 15.4% to 3.2 billion euros (2.8 billion pounds) in the first quarter, impacted, like its rivals, by store closures and also by the shutdown of production sites in Europe.
Kering's fashion powerhouse Gucci plans to reopen prototype activities at one of its main Italian sites next week after reaching a deal with unions on health and safety measures for workers, it said on Saturday. Most businesses and production sites have been shut across Italy under a lockdown imposed by the government in March due to the coronavirus emergency. Tough restrictions on movement and the closure of many economic activities will remain in place until at least May 3, but there is not yet any clear plan over to what extent, or how gradually, they will then be relaxed.
François-Henri Pinault, the French billionaire chairman and CEO of luxury goods group Kering <PRTP.PA>, has agreed to a pay cut in the latest example of top executives accepting lower salaries as a gesture of solidarity during the coronavirus crisis. "Given the current context of the COVID-19 pandemic and its impact on economic activity, François-Henri Pinault, Chairman and CEO of Kering, has decided to reduce the fixed portion of his salary by 25% from April 1st, until the end of 2020," Kering said on Friday. "In addition, François-Henri Pinault and Jean-François-Palus, Group Managing Director, have decided to waive the entirety of the variable portions of their annual remuneration for 2020," added the company.
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High-end fashion labels Saint Laurent and Balenciaga will start making face masks to ease shortages during the coronavirus crisis, their French parent group Kering said on Sunday. Dwindling stocks of protective gear across France have angered doctors and prompted police unions to threaten to walk off the job - complaints echoed in Spain and Italy. Paris-based Kering <PRTP.PA>, which also owns Italian brand Gucci, said Saint Laurent and Balenciaga would start manufacturing the gear in their workshops as soon as their processes and materials got formal approval.
Kering <PRTP.PA>, the French luxury goods group behind brands such as Gucci, said on Friday it expected comparable sales to fall by around 15% in the first quarter as the coronavirus outbreak saps demand and forces it to close stores. The health crisis first hit China - a major market for high-end wares - before spreading elsewhere, and several European states including Italy, Spain and France have gone into lockdown to try to cope. Gucci is one of the world's biggest luxury labels by sales and had been booming in recent years.
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Global luxury brands including Gucci and Louis Vuitton are scaling back orders with Italian suppliers, as the spread of the coronavirus from key market China to major manufacturing hub Italy hits business across the sector, industry sources said. Italy, home to scores of specialist manufacturers of high-end goods from shoes and leather goods to menswear, has seen the biggest epidemic of the virus outside China, prompting Rome to impose a virtual lockdown over much of its wealthy north.
Gucci-owner Kering has temporarily shut half of its stores in China, and shelved new openings and advertising campaigns there, as the coronavirus outbreak throws luxury brands into turmoil. The French group, which also owns Saint Laurent and Balenciaga, remained upbeat about its longer-term prospects as it beat fourth-quarter sales forecasts on Wednesday. "We are seeing a sharp drop in traffic and sales in mainland China," Chairman Francois-Henri Pinault said, adding shops that remained open, including in Hong Kong, were on reduced hours.
As China grapples with the coronavirus, markets are grappling with their nerves - and on Monday, losing the battle. World shares hitting two week lows as worries grew over the economic impact of the infection. The MSCI All-Country World Index - tracking shares in nearly 50 countries - was down over 0.4 of a per cent. taken on their own, the Nikkei saw, at 2 per cent, its biggest one-day fall in five months. Europe's bourses were down by similar - putting them on course to their worst day in nearly two months. Taking a big part of the hit: the airline sector, hotels, miners - and luxury goods. LVMH, Christian Dior, Hermes and Gucci owner Kering - all heavily reliant on Chinese demand - fell more than 3%. Unsurprisingly, safe haven bonds were in demand - and gold surged. Oil also suffered a big fall, prices below 60 dollars a barrel for the first time in nearly three months. Chinese officials say the ability of the coronavirus to be passed on is getting stronger and infections could continue to rise. The government has also extended the Lunar New Year Holiday by 3 days, in an effort to curb the spread. But this is a week that also sees Federal Reserve and Bank of England rate meetings. Any unexpected hints of tightening of ultra-loose monetary policy would, say traders, add another layer of anxiety.
French fashion label Saint Laurent, part of Kering <PRTP.PA>, will open a new manufacturing site for handbags and wallets outside Florence, the latest luxury house to expand its presence in Italy's leather goods heartland. Saint Laurent's President and CEO Francesca Bellettini told reporters on Friday the label would move 340 workers to the new 29,000 square-metres site in the industrial district of Scandicci and hire around 300 more people. Saint Laurent signed a 27-year contract with Italian state holding Cassa Depositi e Prestiti to rent out two buildings which had long been abandoned but will be renovated and handed over to the label in September 2022.
PARIS/MILAN, Dec 5 (Reuters) - The chief executive and top shareholder of puffer jacket maker Moncler played down speculation around a takeover by Gucci-owner Kering on Thursday, saying the two firms sometimes talked but that there was no deal in the works. Shares in the Italian label, which has become a luxury industry darling in recent years after a makeover under CEO Remo Ruffini, surged earlier after Bloomberg reported that it had held exploratory discussions with Kering.
It's known for puffer jackets with sky-high price tags. Now Moncler might be about to fetch a pretty price itself. French luxury conglomerate Kering, owner of Gucci and other brands, could be about to make a bid. That's according to reports late Wednesday (December 4) by Bloomberg. The news sent Moncler shares up as much as 11 percent early Thursday (December 5). A takeover would be just the latest consolidation in the luxury sector. Last month Louis Vuitton owner LVMH agreed to buy jeweler Tiffany for 16 billion dollars. Talk of further bids lifted the whole sector on Thursday, with Burberry and Ferragamo among the gainers. Moncler has been one of the industry's big success stories in recent years. It's boomed since a buyout by Italian entrepreneur Remo Ruffini in 2003. A fashion for high-end streetwear has helped it sell quilted jackets for over $1,000 apiece. After listing on the Milan stock market six years ago, it's now valued at around 11 billion dollars.
PARIS/MILAN (Reuters) - The chief executive and top shareholder of puffer jacket maker Moncler <MONC.MI> played down speculation around a takeover by Gucci-owner Kering <PRTP.PA> on Thursday, saying the two firms sometimes talked but that there was no deal in the works. Shares in the Italian label, which has become a luxury industry darling in recent years after a makeover under CEO Remo Ruffini, surged earlier after Bloomberg reported that it had held exploratory discussions with Kering.
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Moncler had a market valuation of about 9.8 billion euros as of Wednesday's close on the Milan Stock Exchange. Kering declined to comment, while Moncler did not immediately respond to Reuters request for comment.