Kering SA (XPAR:KER)

€ 221.75 -1.65 (-0.74%) Market Cap: 27.19 Bil Enterprise Value: 41.90 Bil PE Ratio: 13.09 PB Ratio: 1.82 GF Score: 86/100

Q1 2021 Kering SA Corporate Sales Call Transcript

Apr 20, 2021 / 04:00PM GMT

Release Date Price: €626.1 (-2.20%)

Transcript

Operator

Good afternoon, ladies and gentlemen, and welcome to the Kering 2021 First Quarter Revenue Conference Call. (Operator Instructions) And just to remind you all, this conference call is being recorded.

I would now like to hand over to Jean-Marc Duplaix, Kering Chief Financial Officer. Please go ahead with your meeting and I'll be standing by.

Jean;Marc Duplaix

Kering SA - CFO

Good evening to all of you, and welcome to Kering's First Quarter 2021 revenue call. Starting on Slide 4, group revenue reached EUR 3.9 billion in Q1, a strong year-on-year rebound, with sales up 21.4% reported and 25.8% comparable implying a 4.4 point FX headwind. Revenue from our Luxury Houses grew 26% comparable and our Corporate and Other segment, mainly comprising Kering Eyewear, was up 23% comparable. This sharp improvement is driven by solid performances across the board. Our Houses posted consistent growth with comparable revenue increases ranging from 23% to 33%. Looking at retail only, including e-commerce, our Luxury Houses are up 32% year-on-year in

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