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Bulgari CEO Jean-Christophe Babin anticipates a recovery in China's luxury market within the next two years as the economy improves. He noted a significant decline in sales at physical stores compared to online channels, which are better positioned to reach customers in smaller cities.
U.S. markets experienced declines ahead of the presidential election, with the Dow Jones down 0.61% and the S&P 500 dipping 0.28%. Despite this volatility, historical trends suggest stocks typically rise post-election, although short-term fluctuations may occur. Consumer confidence in equities has reached an all-time high, reflecting optimism amid uncertainty.
Hermès continues to thrive amid a global luxury slowdown, driven by the enduring appeal of its Birkin and Kelly handbags, which account for up to 28% of its revenue. Despite a decline in overall luxury spending, Hermès reported double-digit growth in its latest quarter, contrasting sharply with competitors like LVMH and Kering. The brand's focus on quality and exclusivity has attracted high-end consumers willing to spend more per transaction, reinforcing its market position.
UBS has maintained a Neutral rating on Kering shares after the luxury group's disappointing third-quarter results, with a price target set at 227 euros. The broker highlighted a significant 25% decline in retail sales, particularly for Gucci, and a sharp drop in Ebit outlook, which exceeded pessimistic expectations, likely leading to further stock declines in the current market context.
UBS has maintained a Neutral rating on Kering shares, setting a price target of 227 euros, following disappointing third-quarter results. The luxury group's sales declined by 25% in retail, particularly affecting its flagship brand, Gucci, and the Ebit outlook has dropped over 10% on consensus, likely leading to further stock declines.
UBS has maintained a Neutral rating on Kering shares, setting a price target of 227 euros, following disappointing third-quarter results. The luxury group's sales declined by 25% in retail, particularly affecting its flagship brand, Gucci, and the Ebit outlook has dropped over 10% below consensus, likely leading to further stock declines.
ASML's Q3 orders fell significantly short of expectations, reaching only 2.6 billion euros compared to the anticipated 5.4 billion euros, prompting a cautious outlook for 2025 amid ongoing economic challenges in China. This situation raises concerns about Apple's upcoming results, as China accounts for 20% of its revenue, potentially leading to a test of lower price ranges.
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