F i r s t Q u a r t e r s a l e s. 25 April 2013

Transcription

1 2013 F i r s t Q u a r t e r s a l e s 25 April 2013

2 Disclaimer This presentation does not constitute an offer of securities for sale in the United States of America or any other jurisdiction. Certain information contained in this document may include notably projections and forecasts. They express objectives based on current assessments and estimates of the Group s executive management which are subject to numerous factors, risks and uncertainties. Consequently, reported figures and assessments may differ significantly from projected figures. The following factors among others set out in the Reference Document (Document de Référence) filed with the French Financial Markets Authority (Autorité des Marchés Financiers- AMF) on April 18, 2013 which is available on PPR* s website at may cause actual figures to differ materially from projected figures: any unfavourable development affecting consumer spending in the activities of the Group in France and abroad, notably for products and services sold by the Retail brands or for Luxury Goods, the events, crises, fears, and resulting costs of complying with environmental, health and safety regulations and all other regulations with which Group companies are required to comply; the competitive situation on each of our markets; the impact of current or future public regulations; exchange rate and other risks related to international activities; risks arising from current or future litigation. PPR* gives no commitment to updating and/or revising and/or commenting any projections and forecasts, or their impact on the results and perspectives of the Group, which may be contained in this presentation. The information contained in this document have been selected by the Group s executive management to inform about the 2013 first quarter sales. This document has not been independently verified. PPR* makes no representation or undertaking as to the accuracy or completeness of such information. None of the PPR* or any of its affiliates representatives shall bear any liability (in negligence or otherwise) for any loss arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. IN NO WAY DOES PPR* ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED IN THIS PRESENTATION. READERS ARE ADVISED TO REVIEW THE COMPANY'S REFERENCE DOCUMENT AND THE COMPANY'S APPLICABLE AMF FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISION. 2 *PPR will become Kering, subject to approval of the annual general meeting on 18 June 2013.

3 Q G r o u p r e v e n u e u p 3. 1 % c o m p a r a b l e Luxury further drives growth on demanding comps Revenue in m Q1 13 Revenue Reported Change % Comparable Luxury 1, % +6.4% Sport & Lifestyle % -2.5% Total Kering 2, % +3.1% Luxury sales up 6.4% comparable Positive growth across all regions, with very strong performances in North America and Japan Soft start to the year in Sport & Lifestyle Transformation Plan in progress New CEO announced on 18 April at Puma Progress in the Group s transformation Further Redcats disposals completed in Q1 13, Fnac de-merger approved by Board on April 17 3

4 Luxury division Q r e v e n u e : 1, M % c o m p a r a b l e ; % r e p o r t e d 1,458 M +3% +8% +10% +6% +15% 1,523 M 31% 17% % 33% 8% Positive growth across all regions, with very healthy trends in North America and Japan; mainland China up 10% Sustained performance in retail (+8%), wholesale held back by ongoing rationalization Fashion & Leather goods up 7% 992 DOS as of March 31, 2013 (34 net openings) 4

5 Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d +9% +5% +3% +17% 866 M 848 M (1%) 27% 18% 10% 38% 7% Good momentum in retail (+6%); wholesale trends reflect selective approach to distribution Further good appreciation of leather goods collections, strong performance in Shoes (+8%) Solid trends in North America and Japan 432 DOS as of March 31, 2013 (3 net openings) 5

6 Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d +14% (2%) 229 M 218 M +5% +2% +12% 26% 13% 16% 42% 3% Further double-digit growth in retail sales partly offset by lower wholesale mainly due to timing of deliveries and selective approach to distribution Leather goods continuing to drive growth; highly promising trends in Men s shoes and RTW Japan and Greater China delivering strong double-digit growth 205 DOS as of March 31, 2013 (9 net openings) 6

7 Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d +23% +0% +26% +26% +29% 127 M 109 M 42% 20% 9% 20% 9% Positive trend continues on very high comps in retail and wholesale Complete line-up of product novelties, across all categories fuelling brand awareness Further significant brand investments poised to continue throughout the year 98 DOS as of March 31, 2013 (9 net openings) 7

8 Other Luxury brands Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d 283 M +4% +10% +19% (0%) +% 301 M 42% 20% 10% 16% 12% Very strong performances at Stella McCartney, Alexander McQueen and Boucheron Promising transition at Balenciaga, with good reception from buyers First steps in the integration of Qeelin and Christopher Kane 257 DOS as of March 31, 2013 (13 net openings) 8

9 Sport & Lifestyle division Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d 887 M (7%) +2% (9%) +2% +1% 842 M 32% 24% 9% 13% 22% Textile and sporting goods market under pressure in Western Europe, tough consumer spending environment impacting distribution networks Good performance of retail; difficulties of some key retailers affecting Volcom and Electric 9

10 Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d 821 M (7%) +4% (9%) +2% +0% 782 M 33% 21% 9% 13% 24% Accessories very strong (+12%), notably Cobra Puma Golf; apparel resilient (-1%); footwear down 8% France and Italy leading decline in Western Europe Transformation Program on track 10

11 Q r e v e n u e Conclusion Strategic investment in both our pillars Luxury: Announced acquisition of Pomellato, retail network expansion & renovation, sourcing, capacity Sport & Lifestyle: Management transition to accelerate Puma Transformation Plan Group transformation on track Stringent financial discipline Focus on gross margin Tight cost vigilance

12 GUCCI BOTTEGA VENETA YVES SAINT LAURENT ALEXANDER McQUEEN BALENCIAGA BRIONI STELLA McCARTNEY SERGIO ROSSI BOUCHERON GIRARD-PERREGAUX JEANRICHARD QEELIN CHRISTOPHER KANE PUMA VOLCOM COBRA ELECTRIC TRETORN

13 PPR will become Kering, subject to approval of the annual general meeting on 18 June 2013.