|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||536.20 - 549.00|
|52-week range||377.60 - 553.40|
|Beta (3Y monthly)||1.12|
|PE ratio (TTM)||35.15|
|Forward dividend & yield||10.50 (1.98%)|
|1y target est||N/A|
Dec.05 -- Senior executives at Kering SA, the owner of Gucci and Saint Laurent, have held exploratory talks with Moncler SpA about a potential deal for the Italian skiwear maker, people with knowledge of the matter said. Eric Pfanner reports on "Bloomberg Markets: European Open."
PARIS/MILAN (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.
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.
Is Kering SA (EPA:KER) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can be...
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.
LONDON/PARIS (Reuters) - The U.S. threat of tariffs on French goods from handbags to Champagne proved just a glancing blow to giants like LVMH and Kering this week, as investors refused to give up their decade-long love affair with luxury goods. Equity analysts reckon the appeal of companies such as Hermes , whose Birkin handbags sell for $10,000-plus and often have waiting lists, will be undimmed despite attempts to hit their exports as retaliation for European taxation of U.S. digital companies. With a price tag of over 200 billion euros, Louis Vuitton and Christian Dior owner LVMH is the biggest stock by market capitalization on the Paris exchange and is worth twice as much as pan-European planemaker Airbus which is also at the centre of the transatlantic trade war.
French stocks were already under pressure after the US proposed $2.4bn of tariffs on French cheese, champagne, and handbags overnight.
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
(Bloomberg Opinion) -- Like expensive gems, luxury goods companies have scarcity value. If Bernard Arnault’s LVMH Moet Hennessy Louis Vuitton SE is allowed to get its hands on Tiffany & Co., the American jeweler is unlikely to come up for sale again. That’s something LVMH’s biggest rivals, Kering SA and Cie Financiere Richemont SA, might want to consider carefully.Financially they could both afford to make counterbids for Tiffany. An offer from either Cartier-owning Richemont or Gucci-owning Kering at the $120 per share price proposed by Arnault would lift their net debt to about 2.5 times Ebitda. That’s not too much of a stretch. Kering also has a 15.7% stake in sportswear maker Puma, worth about $1.8 billion, which it could reuse on something more promising.Both companies are no doubt extremely wary of taking on someone with such deep (and well-tailored) pockets as Arnault. But it’s a hard fight to sit out. Of the two, Richemont has most to lose from an LVMH-Tiffany tie up. The combined Franco-American group would take the Swiss giant’s position as the global leader in luxury jewelry, according to Bloomberg Intelligence.Arnault has a track record of turbocharging the brands he adds to his stable. Take the jeweler Bulgari, which has more than doubled its revenue since being bought by LVMH in 2011, according to analysts at Royal Bank of Canada. If LVMH repeated that trick with Tiffany, it would seriously challenge Richemont’s flagship Cartier brand.It would be a leap for Richemont to take on a lot more debt, especially when it’s still integrating the acquisition of online retailer Yoox Net-a-Porter and is developing a web joint venture with Alibaba Group Holdings Ltd. But these distractions might explain Arnault’s tactics in striking now for Tiffany.As for Francois-Henri Pinault’s Kering, it has lived with higher leverage in the past, although it tried to stick within a range of 1-2 times Ebitda. It certainly has room to expand in jewelry. Along with watches, the category accounted for just 6.8% of its sales in 2018. But many of Tiffany’s products are in the so-called “accessible” luxury segment (sometimes priced at about $1,000 or below), which Kering has been moving away from. The French group got rid of most of its stake in Puma last year to focus on the high-end stuff.Another problem for both rivals is that any counterbid would have to be above the $120 per share on the table, and would probably provoke a response from Arnault. The final purchase price would be even more of a stretch. LVMH has a “balance sheet war chest” of more than $20 billion, according to Deborah Aitken of Bloomberg Intelligence.Of course, a competing bid could be funded partly with shares, but Tiffany might well prefer cash.If Richemont and Kering can’t be enticed, the American company will have to persuade LVMH that it’s worth more without the help of an interloper bidding up the price. With its sales going in the wrong direction that looks difficult. But auction or not, it’s Tiffany’s job to make Arnault pay up.\--With assistance from Chris Hughes.To contact the author of this story: Andrea Felsted at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
* Swiss Market Index hits record high Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Main European bourses closed flat today after the EU agreed in principle to delay Brexit but set no new departure date.
Kering led a luxury goods share rally on Friday after its star fashion label Gucci posted stronger-than-expected sales, demonstrating how some brands have so far managed to counter the hit from protests in Hong Kong. Moncler shares were also rising, up 6% after the Italian puffer jacket maker's third quarter sales beat expectations. The firms joined rivals such as LVMH's Louis Vuitton and Hermes in easing fears of a major hit from months of pro-democracy demonstrations in Hong Kong that have caused them to temporarily close shops and which have kept tourists away.
Europe's retail index gained 1.2%, leading gains among major subsectors. The food and beverage sector led losses on Friday, however, after brewer AB InBev provided a cautious outlook and reported weaker-than-expected quarterly earnings growth, sparked by reduced demand for its beer in Brazil and South Korea. "You have a mechanical effect from that 10% decline in AB InBev, but you can't really generalize.
PARIS/MILAN (Reuters) - Kering's Gucci brand and Italian jacket maker Moncler joined other luxury labels on Thursday in easing fears of a major third quarter sales hit from protests in Hong Kong, as they benefited from brisk business across the rest of Asia. Birkin-handbag maker Hermes and LVMH , which owns Louis Vuitton, have also managed to largely make up for lost business in the Chinese-ruled city, where months of pro-democracy demonstrations have put off tourists and shoppers. The brands were still penalised to some degree, after being forced to temporarily close shops, with Moncler's sales down 40% in Hong Kong in the third quarter and those across the Kering conglomerate as a whole falling 35%.
* European indices, Wall Street rise * UK and Ireland issue positive statement on Brexit * US Chamber sees possible US-China currency deal, tariff hike delay * Pan European STOXX 600 closes up 0.7% * Miners, cars and banks lead sectoral gainers * Luxury shines after LVMH, Dior results * UK-listed packaging companies hit by Mondi results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://firstname.lastname@example.org CLOSING SNAPSHOT: A RAY OF LIGHT ON BREXIT AND TRADE (1554 GMT) "Expectations there will be a partial (trade) deal and rumours of progress being made in Brexit talks are boosting stocks, while depressing bonds," a trader just told us.
* European indices choppy ahead of U.S.-China trade talks * China urges U.S. to halt pressure on Chinese companies, including Huawei * STOXX 600 down 0.2%, DAX flat, FTSE down 0.1% * Luxury shines after LVMH, Dior results * Cars, miners only gainers * UK-listed packaging companies hit by Mondi results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://email@example.com LVMH ON TRACK FOR BEST YEAR SINCE 2010 LVMH shares' rally (+5.4% at the moment) puts the company on track for its best year since 2010, but investors' luxury euphoria could chill on the news that sales in Hong Kong dropped about 25% in the quarter.
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: firstname.lastname@example.org OPENING SNAPSHOT: CAREFULLY OFF THE BACK FOOT (0840 GMT) European stock markets opened in the red and slightly worse than what futures or spreabetters indications had initially suggested.