Kering Sa Ord (PPRUF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good evening everyone and welcome to Caring H1 2026 results. This presentation will be made by Luca de Meo, Jean-Marc Duplaix and Armelle Poulou and will be followed by a Q&A session. Luca, the floor is yours. Good afternoon everyone and of course thanks for joining us. Before Armelle takes you through the financial results, I would like to share some thoughts on the first half of 2026 and obviously also about the progress we're making across the group. So H1 has been about turning strategy into action and action into results. Three months after our capital market day, we started to execute our brand's playbooks, reduce inventories, optimize our store network, significantly reduce our net debt and improve our key operational and commercial indicators. These actions... Translated into tangible progress in our performance and in fact the group returned to growth in the second quarter despite continuing to optimize its store network. This is particularly significant as we completed 84 net store closures in the first half following 75 net closures in 2025. Sa Ord optimization is not only about reducing our footprints, it is also about upgrading, renovating and elevating our most strategic locations. And the fact that we return to growth while materially reshaping our network demonstrates the improving productivity. Thank you very much. Thank you very much. This is why we remain focused on strengthening our brands and building a more agile, disciplined and effective organization. Our first priority is to reignite the desirability of our houses. Thank you very much. Our ambition is to translate creativity into desirability by ensuring that product, merchandising, pricing architecture, marketing and retail excellence work together as one coherent engine. Let me now share so...