Kering sees 2024 operating income EUR 2.5B, consensus EUR 2.82B

The company said, “To achieve its long-term vision, Kering (PPRUY) invests in the development of its Houses, so that they continuously strengthen their desirability and the exclusivity of their distribution, strike a perfect balance between creative innovation and timelessness, and achieve the highest standards in terms of quality, sustainability, and experience for their customers. In an environment of ongoing economic and geopolitical uncertainty, Kering will continue to execute on its strategy and vision, in pursuit of two key ambitions: to maintain a trajectory of long-term profitable growth, and to confirm its status as one of the most influential groups in the Luxury industry. Considering the major uncertainties likely to weigh on demand among luxury consumers in the coming months and following the larger-than-expected slowdown in the third quarter of the year, Kering’s recurring operating income in 2024 could total approximately EUR 2.5 billion.”