Kering: Sound operating performance in the first-half

            Kering: Sound operating performance in the first-half

                           2014 First-Half Results


Sound operating performance in the first-half

Revenue up 4% and improved recurring operating margin on a comparable basis
Solid sales growth for the Luxury activities: up 6% on a comparable basis
Positive trends in Sport & Lifestyle
Negative foreign currency impact
Excellent level of free cash flow from operations



François-Henri   Pinault,    Chairman    and    Chief    Executive    Officer, 
commented:"Kering delivered a sound  performance in the  first half of  2014, 
with revenue up  4% and improved  recurring operating margin  on a  comparable 
basis. The Luxury activities reported further sales growth, driven by a  solid 
performance from  directly  operated  stores, and  their  recurring  operating 
income rose in the period. At the same time, the Sport & Lifestyle  activities 
posted higher  comparable sales  - an  encouraging trend  as Puma's  ambitious 
relaunch is proceeding according to  plan. Our overall performance during  the 
period confirms the strength, appeal and strategic coherence of our brands. In
an unsettled operating environment, we are pursuing the implementation of  our 
strategy, all the while keeping tight control over costs and safeguarding  our 
gross margins. This enables us to  anticipate an improvement in our  operating 
performance in the second half of the year."



(in € million)                      H1 2014 H1 2013 Change ^(1)
                                                 
Revenue                             4,747   4,678     +1.5 %
Recurring operating income          810     843       -3.9 %
 as a % of revenue             17.1 %  18.0 %       
Net income, Group share             185     173        +7.0%
Recurring net income, Group share * 555     582       -4.7 %



^(1) Reported change.



* Recurring net income, Group share:net income from continuing operations,
Group share, excluding non-current items.





Operating performance



In a weaker economic climate, Kering's revenue from continuing operations  for 
the first half of 2014 amounted to €4,747 million, up 1.5% on first-half  2013 
as reported and 4% based on  a comparable Group structure and exchange  rates. 
The Group recorded revenue growth of 4.1%  on a comparable basis in the  first 
quarter of 2014 and 4% in the second quarter (1.2% and 1.8% respectively on  a 
reported basis).

Exchange rate  fluctuations had  a  negative €196  million effect  on  revenue 
during the period.



The Luxury  activities posted  year-on-year revenue  growth of  5.7% based  on 
comparable data,  reflecting solid  performances by  directly operated  stores 
across all  geographic  areas. Revenue  generated  by the  Sport  &  Lifestyle 
activities edged  up  0.4% on  a  comparable  basis in  a  persistently  mixed 
operating  environment  and  with  ongoing  difficult  market  conditions  for 
Footwear in Western Europe.



The Group's balance in terms of geographic presence and sales formats makes it
more resilient to changes in  the economic environment despite the  volatility 
in the  global  economy over  the  last several  quarters.  Revenue  generated 
outside the  Eurozone  climbed  4.9% in  the  first  half of  2014  (based  on 
comparable data) and accounted for 78% of the Group total, versus 79% in  2013 
(on a reported basis). Growth in  mature markets was sustained at 3.1%  (based 
on comparable data), driven by Japan and North America. Emerging markets  were 
up 5.6% on  a comparable basis,  and accounted for  38.1% of sales,  including 
26.2% generated in the Asia-Pacific region (excluding Japan).



In first-half  2014,  Kering's recurring  operating  income amounted  to  €810 
million, down  3.9% on  the first  half of  2013, but  up 6.2%  at  comparable 
exchange rates. Recurring operating margin came in at 17.1% (versus 18.0%  for 
the first six months of 2013 and 17.0% at comparable exchange rates).



At €967 million, EBITDA was 1.7% lower  than in first-half 2013 on a  reported 
basis, but some  8% higher  than in  the first half  of 2013  on a  comparable 
exchange rate basis. The EBITDA margin stood at 20.4% in first-half 2014, down
0.6 points on a reported basis from the first half of 2013, but up 0.4  points 
at comparable exchange rates.





Financial performance



Net finance costs totaled €105 million in the first half of 2014 and the  cost 
of net debt decreased to just under €87 million.



Net income, Group share came to €185 million for the first six months of 2014,
up 7% on the first-half 2013 figure of €173 million. The Group reported a €348
million net loss under discontinued operations during the period, of which
€300 million related to Redcats.



Net income, Group share from continuing operations came in at just under €533
million versus nearly €559million in first-half 2013. Adjusted for
non-recurring items net of tax, netincome, Group share from continuing
operations totalled €555 million compared with €582 million in first-half
2013.



Earnings per share amounted to €1.47 in the first six months of 2014 (€1.37 in
first-half 2013). Earnings per share from continuing operations stood at €4.23
(€4.44 in first-half 2013). Excluding non-recurring items, earnings per  share 
from continuing operations totaled €4.41, versus €4.63 in the six months ended
June 30, 2013.

Financial position

At June 30, 2014, Kering had a sound financial structure.

(in € million)           June 30, 2014 June 30, 2013 Dec. 31, 2013
Capital employed            15,013        14,816        14,823
Net assets held for sale     (66)          (72)          (185)
Total equity                11,042        11,556        11,196
Net debt                     3,905         3,188         3,443

In first-half  2014,  free cash  flow  from operations  totaled  €620  million 
compared with €393million in the first six months of 2013.



Highlights of first-half 2014



Kering reorganises its Luxury activities to accelerate the growth of its
brands



In order to foster the continuing  expansion of its Luxury business  resulting 
from both its organic growth and the acquisitions carried out in recent years,
in April 2014, Kering announced the creation of two new divisions - "Luxury  - 
Couture & Leather Goods" and "Luxury - Watches & Jewelry" - both reporting  to 
François-Henri Pinault, the Group's Chairman and Chief Executive Officer.



Marco Bizzarri has been appointed as CEO of "Luxury - Couture & Leather Goods"
and Albert Bensoussan as CEO of  "Luxury - Watches & Jewellery". Gucci,  whose 
Chairman and CEO is Patrizio di Marco, remains under the direct supervision of
François-Henri Pinault.



Sale of La Redoute



On June 3, 2014, Kering  announced that it had closed  the sale of La  Redoute 
and Relais Colis to Nathalie Balla, Chairman  and CEO of La Redoute, and  Eric 
Courteille, Chief Administrative Officer of Redcats.



Other highlights



In the first six months of 2014, Kering redeemed the remaining €550.1  million 
of the bond that was issued in 2009  and matured in April 2014. This bond  was 
originally issued in two tranches  representing an aggregate €800 million,  of 
which €249.9 million was redeemed in  2011. Also during the period, the  Group 
redeemed the €150 million bond issued in June 2009.



Subsequent event



On July 30, 2014, Kering and Ulysse  Nardin announced that they had signed  an 
agreement under which Kering will acquire the haute horlogerie brand's  entire 
share capital. The  brand will  become part of  Kering's "Luxury  - Watches  & 
Jewelry" division, which is  headed by Albert  Bensoussan. The transaction  is 
subject to the approval of the  competition authorities and is expected to  be 
finalised during the second half of 2014.



Outlook

Kering will continue to  implement its action plans  aimed at stepping up  the 
organic growth and operating cash flow generation of each of the brands of its
Luxury activities. The results of these plans already began to feed through in
the first six  months of 2014  despite the difficult  market context, and  for 
Gucci in particular, they should lead  to a return to positive revenue  trends 
in the second half of the year.



Going forward,  Kering will  pursue its  strategy of  rigorously managing  and 
allocating its  resources  which  should  enable  the  Group  to  improve  its 
operating performance  in  the second  half  of 2014  in  spite of  the  still 
unsettled business environment.

At  its  meeting  on  July  30,  2014,  the  Board  of  Directors,  under  the 
chairmanship of François-Henri  Pinault, approved  the condensed  consolidated 
financial statements for the first half of 2014 that were subject to a limited
review.











This press release is a free translation of the French original press  release 
available on our website: www.kering.com.







Main definitions

IFRS 5 - Non-current assets held for sale and discontinued operations



In accordance with IFRS 5 - Non-current Assets Held for Sale and  Discontinued 
Operations, the Group has presented certain activities as "Non-current  assets 
held for sale and discontinued operations". The net income or loss from  these 
activities is shown on  a separate line of  the income statement, "Net  income 
(loss) from discontinued operations", and is restated in the statement of cash
flows and income statement for all reported periods.



Assets and  liabilities relating  to assets  held for  sale are  presented  on 
separate lines  in  the  Group's  statement  of  financial  position,  without 
restatement  for  previous  periods.   Assets  and  liabilities  relating   to 
discontinued operations are  not presented  on separate lines  in the  Group's 
statement of financial position.



As  stated  in  Note  9  to  the  condensed  consolidated  interim   financial 
statements, Groupe Fnac and the  Redcats group are classified as  "Non-current 
assets held for sale and discontinued operations".



Definition of "reported" and "comparable" revenue



The Group's "reported"  revenue corresponds  to published  revenue. The  Group 
also uses "comparable" data to measure organic growth. "Comparable" revenue is
2013 revenue restated for the impact of changes in Group structure in 2013  or 
2014, and  for  translation  differences  relating  to  foreign  subsidiaries' 
revenue in 2013.



Definition of recurring operating income

The Group's total operating income includes all revenues and expenses directly
related to Group activities, whether these revenues and expenses are recurring
or arise from non-recurring decisions or transactions.



"Other non-recurring operating income and expenses" consists of unusual items,
notably as concerns the nature or frequency, that could distort the assessment
of Group  entities'  economic  performance,  as  defined  by  French  national 
accounting board (Conseil  national de la  comptabilité - CNC)  recommendation 
No. 2009-R-03.



Consequently, Kering  monitors  its  operating  performance  using  "Recurring 
operating income", defined  as the difference  between total operating  income 
and other  non-recurring operating  income and  expenses (see  Note 5  to  the 
condensed consolidated interim financial statements).



Recurring operating income is an intermediate line item intended to facilitate
the understanding of the Group's operating  performance and which can be  used 
as a way to estimate recurring  performance. This indicator is presented in  a 
manner that is consistent and stable over the long-term in order to ensure the
continuity and relevance of financial information.



Recurring operating income at  comparable exchange rates  for 2013 takes  into 
account the currency impact on revenue and operational expenses, the effective
portion of currency hedges and the impact of changes in exchange rates on  the 
translation of the recurring operating income of consolidated entities located
outside the eurozone.



Definition of EBITDA

The Group uses  EBITDA to  monitor its operating  performance. This  financial 
indicator corresponds  to  recurring  operating income  plus  net  charges  to 
depreciation, amortisation  and  provisions on  non-current  operating  assets 
recognised in recurring operating income.



EBITDA at comparable exchange  rates is defined using  the same principles  as 
for recurring operating income at comparable exchange rates.



Definition of free cash flow from operations and available cash flow

The  Group  also  uses  an  intermediate  line  item,  "Free  cash  flow  from 
operations", to monitor  its financial performance.  This financial  indicator 
measures net operating cash  flow less net  operating investments (defined  as 
purchases and sales of property, plant and equipment and intangible assets).



"Available cash  flow" corresponds  to  free cash  flow from  operations  plus 
interest and dividends received less interest paid and equivalent.



Definition of net debt

As defined  by CNC  recommendation No.  2009-R-03 of  July 2,  2009, net  debt 
comprises gross borrowings, including accrued interest, less net cash.



Net debt includes fair value hedging instruments recorded in the statement  of 
financial position relating to bank  borrowings and bonds whose interest  rate 
risk is fully or partly hedged as part of a fair value relationship (see  Note 
18 to the condensed consolidated interim financial statements).



The  financing  of  customer  loans  by  fully-consolidated  consumer   credit 
businesses is presented in borrowings.  Group net debt excludes the  financing 
of customer loans by consumer credit businesses.









CONFERENCE CALL

Kering will hold a conference call for analysts and investors at 6:00pm
(Continental Europe) / 5:00pm (UK) / 12:00pm (East Coast, USA) on Wednesday,
July 30, 2014.



The conference call will be available through a live listen-only web audiocast
on www.kering.com (Finance section).



The conference call will also be available through phone, using one of the
dial-in numbers and associated access code below:



France +33 (0)1 76 77 22 20

UK +44 (0)20 3427 1911

US +1(646) 254 3364



Access code: 8392165



A replay of the audiocast will be available on www.kering.com.



PRESENTATION

The slides (PDF) will be available ahead of the conference call at
www.kering.com



                                      

                                      

       The 2014 First-Half report will be available at www.kering.com.







About Kering

A world leader  in apparel  and accessories,  Kering develops  an ensemble  of 
powerful Luxury and  Sport &  Lifestyle brands: Gucci,  Bottega Veneta,  Saint 
Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ,  Stella 
McCartney, Tomas  Maier,  Sergio  Rossi,  Boucheron,  Dodo,  Girard-Perregaux, 
JeanRichard, Pomellato, Qeelin, Puma, Volcom, Cobra, Electric and Tretorn.  By 
'empowering imagination' in the fullest sense, Kering encourages its brands to
reach their potential, in the most sustainable manner.

Present in  more than  120 countries,  the Group  generated revenues  of  €9.7 
billion in 2013 and  had more than  35,000 employees at  year end. The  Kering 
(previously PPR) share  is listed  on Euronext Paris  (FR 0000121485,  KER.PA, 
KER.FP).





Contacts



Press

Paul    Michon     +33    (0)1     45    64     63 
48 paul.michon@kering.com

Hélène     Saint-Raymond      +33      (0)1      45      64      61 
20 helene.saint-raymond@kering.com



Analysts/investors

Claire Roblet   + 33 (0)1  45 64 61  49 
claire.roblet@kering.com

Edouard Crowley  +  33  (0)1  45  64  63  28 
edouard.crowley@kering.com





Website : www.kering.com



                                                                     
 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED
                                 30 JUNE 2014
       

                                                                     
      Contents                                                    page 
                                                                     
                                                                     
      Consolidated income statement                                   8 
      Consolidated statement of financial position                    9 
      Consolidated statement of cash flows                           10 
      Breakdown of recurring operating income                        11 
       

      Quarterly breakdown of revenue                                 12 
                                                                     
                                                                     























































































                                      

                                      

                                      

                                      

                                      

 Consolidated income statement



(in € millions)                      June 30, 2014 June 30, 2013 Dec. 31, 2013
CONTINUING OPERATIONS                                          
Revenue                                    4,747.2       4,678.4       9,748.4
Cost of sales                            (1,727.1)     (1,753.0)     (3,657.9)
Gross margin                               3,020.1       2,925.4       6,090.5
Payroll expenses                           (760.5)       (755.5)     (1,534.7)
Other recurring operating income and
expenses                                 (1,449.4)     (1,327.2)     (2,805.7)
Recurring operating income                   810.2         842.7       1,750.1
Other non-recurring operating income
andexpenses                                 (8.1)        (25.4)       (442.5)
Operating income                             802.1         817.3       1,307.6
Finance costs, net                         (105.4)        (97.2)       (212.3)
Income before tax                            696.7         720.1       1,095.3
Corporate income tax                       (142.8)       (137.0)       (235.4)
Share in earnings (losses) of
equity-accounted companies                   (1.9)         (0.7)           1.6
Net income from continuing
operations                                   552.0         582.4         861.5
o/w attributable to owners of the
parent                                       533.0         558.8         869.4
o/w attributable to non-controlling
interests                                     19.0          23.6         (7.9)
                                                              
DISCONTINUED OPERATIONS                                        
Net loss from discontinued
operations                                 (348.5)       (388.0)       (821.5)
o/w attributable to owners of the
parent                                     (348.5)       (386.3)       (819.8)
o/w attributable to non-controlling
interests                                                 (1.7)         (1.7)
                                                              
Net income of consolidated companies         203.5         194.4          40.0
Net income attributable to owners of
the parent                                   184.5         172.5          49.6
Net income attributable to
non-controlling interests                     19.0          21.9         (9.6)
                                                              
Net income attributable to owners of
the parent                                   184.5         172.5          49.6
Earnings per share (in €)                     1.47          1.37          0.39
Fully diluted earnings per share (in
€)                                            1.46          1.37          0.39
Net income from continuing
operations attributable to owners of
the parent                                   533.0         558.8         869.4
Earnings per share (in €)                     4.23          4.44          6.91
Fully diluted earnings per share (in
€)                                            4.23          4.44          6.90
Net income from continuing
operations (excluding
non-recurring items) attributable to
owners of the parent                         554.9         582.1       1,229.3
Earnings per share (in €)                     4.41          4.63          9.76
Fully diluted earnings per share (in
€)                                            4.40          4.62          9.75





















                                      

                                      

                                      

 Consolidated statement of financial position



(in € millions)                      June 30, 2014 June 30, 2013 Dec. 31, 2013
Goodwill                                   3,634.6       3,896.7       3,770.1
Brands and other intangible assets        10,726.3      10,500.6      10,702.8
Property, plant and equipment              1,683.4       1,402.1       1,676.9
Investments in equity-accounted
companies                                     19.1          24.3          17.3
Non-current financial assets                 303.3         294.5         316.8
Deferred tax assets                          769.6         583.2         649.9
Other non-current assets                      35.7          40.1          30.1
Non-current assets                        17,172.0      16,741.5      17,163.9
Inventories                                2,079.7       1,920.5       1,805.5
Trade receivables                            988.2         986.0         949.9
Current tax receivables                      114.6         103.7         119.1
Other current financial assets                18.8          78.2         107.7
Other current assets                         442.3         527.6         523.4
Cash and cash equivalents                  1,225.8         934.3       1,419.2
Current assets                             4,869.4       4,550.3       4,924.8
Assets classified as held for sale           107.9         438.4         722.1
Total assets                              22,149.3      21,730.2      22,810.8
                                                              
                                                              
(in € millions)                      June 30, 2014 June 30, 2013 Dec. 31, 2013
Share capital                                505.0         504.8         504.9
Capital reserves                           2,426.3       2,422.0       2,424.3
Treasury shares                              (8.7)       (133.0)        (10.4)
Translation adjustments                    (126.9)        (27.6)       (115.3)
Remeasurement of financial
instruments                                   11.6          62.5          69.8
Other reserves                             7,629.2       8,023.4       7,713.3
Equity attributable to owners of the
parent                                    10,436.5      10,852.1      10,586.6
Non-controlling interests                    605.3         704.3         609.3
Total equity                              11,041.8      11,556.4      11,195.9
Non-current borrowings                     2,710.6       2,056.8       3,132.4
Other non-current financial
liabilities                                    1.1                        0.7
Provisions for pensions and other
post-employment benefits                      95.1          99.4          92.8
Other provisions                             108.9          88.6         113.2
Deferred tax liabilities                   2,805.7       2,753.1       2,810.2
Non-current liabilities                    5,721.4       4,997.9       6,149.3
Current borrowings                         2,420.2       2,068.9       1,737.4
Other current financial liabilities           19.7          12.5         213.2
Trade payables                               929.8         872.1         766.1
Provisions for pensions and other
post-employment benefits                       7.2           6.7           7.2
Other provisions                             180.0         123.4         152.7
Current tax liabilities                      386.1         327.0         310.1
Other current liabilities                  1,269.5       1,254.8       1,372.3
Current liabilities                        5,212.5       4,665.4       4,559.0
Liabilities associated with assets
classified as held for sale                  173.6         510.5         906.6
Total equity and liabilities              22,149.3      21,730.2      22,810.8















 Consolidated statement of cash flows





(in € millions)                      June 30, 2014 June 30, 2013 Dec. 31, 2013
Net income from continuing
operations                                   552.0         582.4         861.5
Net recurring charges to
depreciation, amortisation and
provisions on non-current operating
assets                                       156.4         140.3         295.8
Other non-cash income and expenses         (126.8)          32.8         389.9
Cash flow from operating activities          581.6         755.5       1,547.2
Interest paid/received                        95.5          25.9         120.5
Dividends received                                                     (0.3)
Net income tax payable                       252.8         131.3         315.7
Cash flow from operating activities
before tax, dividends and interest           929.9         912.7       1,983.1
Change in working capital
requirement                                (263.0)       (148.8)        (74.5)
Corporate income tax paid                  (172.8)       (164.7)       (383.7)
Net cash from operating activities           494.1         599.2       1,524.9
Purchases of property, plant and
equipment and intangible assets            (215.4)       (208.1)       (677.7)
Proceeds from disposals of property,
plant and equipment and intangible
assets                                       341.3           2.1          10.3
Acquisitions of subsidiaries, net of
cash acquired                                (3.6)       (115.6)       (345.0)
Proceeds from disposals of
subsidiaries, net of cash
transferred                                  (0.1)           4.3          24.7
Purchases of other financial assets         (64.3)        (23.1)        (57.9)
Proceeds from sales of other
financial assets                               9.4           4.4           5.1
Interest and dividends received                2.7          65.4          70.0
Net cash from (used in) investing
activities                                    70.0       (270.6)       (970.5)
Increase/decrease in share capital
and other transactions with owners             3.0           4.8        (85.4)
Treasury share transactions                 (13.8)       (151.2)        (39.0)
Dividends paid to owners of the
parent company                             (473.2)       (471.3)       (471.2)
Dividends paid to non-controlling
interests                                   (26.6)        (20.0)        (26.0)
Bond issues                                  316.2          94.9         938.9
Bond redemptions                           (881.5)       (848.8)       (740.0)
Increase/decrease in other
borrowings                                   756.2          94.3       (309.9)
Interest paid and equivalent               (109.4)        (83.8)       (187.1)
Net cash used in financing
activities                                 (429.1)     (1,381.1)       (919.7)
Net cash used in discontinued
operations                                 (353.4)        (94.8)       (437.5)
Impact of exchange rate variations             6.5          22.3          65.3
Net increase (decrease) in cash and
cash equivalents                           (211.9)     (1,125.0)       (737.5)
                                                                          
Cash and cash equivalents at
beginning of period                        1,237.6       1,975.1       1,975.1
Cash and cash equivalents at end of
period                                     1,025.7         850.1       1,237.6













 Breakdown of recurring operating income









               First-half First-half               Change                 %
  (In M €)                     2013  in M
                  2014                              €                Change
                                                                   
Luxury             798.7      789.5                                9.2   1.2%
Gucci              527.6        556                              -28.4  -5.1%
Bottega            163.1      146.5                               16.6  11.3%
Veneta
Saint               40.9       27.2                               13.7  50.4%
Laurent
Other brands        67.1       59.8                                7.3  12.2%
Sport &             70.9      109.8                              -38.9 -35.4%
Lifestyle
Puma                70.8      109.8                                -39 -35.5%
Other brands         0.1       0.0                                0.1      -
Corporate          -59.4      -56.6                               -2.8   4.9%
Recurring
operating          810.2      842.7                              -32.5  -3.9%
income





































                                                                   Comparable
                                                          Reported
     (in € million)        First-half 2014 First-half 2013  change  change^(1)
                                                               
Luxury                            3,230.4         3,078.4    +4.9%      +5.7%
Gucci                             1,676.3         1,754.8    -4.5%      -1.1%
Bottega Veneta                      525.5           465.6   +12.9%     +17.5%
Saint Laurent                       320.6           255.3   +25.6%     +28.2%
Other brands                        708.0           602.7   +17.5%      +6.7%
Sport & Lifestyle                 1,498.7         1,586.9    -5.6%      +0.4%
Puma                              1,386.1         1,473.9    -6.0%      +0.1%
Other brands                        112.6           113.0    -0.4%      +4.0%
Corporate and others                 18.1            13.1   +38.2%     +21.5%
                                                                        
KERING - Continuing               4,747.2         4,678.4    +1.5%      +4.0%
activities
                                                               
                                                               
^(1) Comparable scope and exchange rates.                         







                        Quarterly breakdown of revenue









































































                                                Reported
                             
       (in € million)          Q2 2014 Q2 2013   change  Comparable change^(1)
                                                    
Luxury                        1,629.7  1,555.0    +4.8%                 +5.2%
Gucci                           838.2    888.9    -5.7%                 -2.4%
Bottega Veneta                  274.7    236.6   +16.1%                +20.2%
Saint Laurent                   162.6    128.1   +26.9%                +29.4%
Other brands                    354.2    301.4   +17.5%                 +5.5%
Sport & Lifestyle               709.1    744.2    -4.7%                 +1.1%
Puma                            656.1    692.3    -5.2%                 +0.7%
Other brands                     53.0     51.9    +2.1%                 +6.9%
Corporate and others             10.4      8.8   +18.2%                +10.6%
                                                                        
KERING - Continuing           2,349.2  2,308.0    +1.8%                 +4.0%
activities
                                                    
                                                                 



                                                Reported       Comparable
      (in € million)         Q1 2014 Q1 2013      change        change^(1)
                                                        
Luxury                      1,600.7  1,523.4          +5.1%             +6.3%
Gucci                         838.1    865.9          -3.2%             +0.3%
Bottega Veneta                250.8    229.0          +9.5%            +14.6%
Saint Laurent                 158.0    127.2         +24.2%            +27.1%
Other brands                  353.8    301.3         +17.4%             +7.9%
Sport & Lifestyle             789.6    842.7          -6.3%             -0.2%
Puma                          730.0    781.6          -6.6%             -0.4%
Other brands                   59.6     61.1          -2.5%             +1.5%
Corporate and others            7.7      4.3         +79.1%            +40.0%
                                                                        
KERING - Continuing         2,398.0  2,370.4          +1.2%             +4.1%
activities
                                                        
                                      











^(1) Comparable scope and exchange rates.









PR_Kering_2014HYresults

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the content, accuracy and originality of the information contained therein.
Source: Kering via Globenewswire
HUG#1843987
 
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