KERING : Stifel confirms its recommendation on the stock
The analyst points out that Kering expects its first-quarter sales to decline by around 10% year-on-year.
Gucci sales are expected to fall by almost 20% year-on-year, due to an expected decline in Asia-Pacific.
Against this backdrop, Stifel believes that the consensus forecast for 2024 EBIT should be revised downwards.
Kering anticipates a difficult first half, which may require a revision of Gucci's margin outlook when it reports its first-quarter results on April 23.
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