France: Kering has announced its financial results for the fiscal year 2016. The company’s revenue noted a jump of 6.9% to Euro 12,385 million compared to previous year’s Euro 11,584 million. In the mentioned period, recurring operating income reached a record high at Euro 1,886 million, up by 14.5% from Euro 1,646.7 million. In terms of net income, Group share climbed 16.9% to Euro 814 million.
Overall revenue generated by Luxury Activities totalled Euro 8,469 million, rose by 7.7% as reported. The Y-o-Y revenue rise was driven by a 10.3% increase in sales at directly operated stores. Online sales also advanced more than 20% Y-o-Y. Altogether, sales generated at directly operated stores and online represented 72.3% of the Luxury Activities’ total revenue in the reporting fiscal. Also, recurring operating income for Luxury Activities surged sharply by 13.3% to Euro 1,936 million. Gucci has been one of the sector’s leading performers, with revenue up 12.3% as reported to Euro 4,378.3 million. Recurring operating income for the fashion brand amounted to Euro 1,256.3 million climbing 224% from prior year. Another major fashion label, Yves Saint Laurent also enjoyed a jump of 25.3% in revenue to Euro 1,220.2 million. Its recurring operating income amounted to Euro 268.5 million in the reporting period. However, Bottega Veneta’s revenue was down 8.7% to Euro 1,173.4 million. It also suffered a major loss in recurring operating income with 77.1% decline to Euro 297.4 million.
In Sports and Lifestyle Activities (segment of Kering), Puma generated revenue of Euro 3,642.2 million, up by 7%. The recurring operating income of the brand totalled Euro 126.6 million, witnessing a jump of 34.2%.