Group 1: Kering's Credit Outlook - S&P Global Ratings downgraded Kering's credit outlook from stable to negative, currently rated at BBB+ due to significant sales decline in its core brand Gucci [1] - Kering's overall revenue for the first half of the year was €7.587 billion, a 16% year-over-year decrease, with net profit plummeting 46% to €474 million [1] - Kering's management is undergoing changes, with new CEO Luca de Meo planning to restructure the company and focus on potential brands like Balenciaga while accelerating product and creative updates for Gucci [1] Group 2: Tapestry's Performance - Tapestry reported a revenue increase of 8.3% year-over-year to $1.723 billion for Q4 of fiscal year 2025, exceeding analyst expectations [2] - The core brand Coach saw a revenue growth of 14.3%, while Kate Spade experienced a revenue decline of 13% in Q4 and a 10% drop for the entire year [2] - Tapestry anticipates an additional cost of approximately $160 million due to tariffs, which negatively impacted its stock price despite strong financial results [2] Group 3: Valentino's CEO Departure - Jacopo Venturini, CEO of Valentino, resigned for personal reasons after a five-year tenure, marking his third departure from the company [3] - Valentino's financial performance is under pressure, with a projected 2% decline in sales to €1.31 billion and a 22% drop in core operating profit to €246 million for 2024 [3] - The departure of Venturini raises concerns about the potential impact on creative director Alessandro Michele, who previously worked with him at Gucci [3] Group 4: Amer Sports Growth - Amer Sports, the parent company of Arc'teryx, is experiencing strong growth, driven by the ongoing outdoor trend [4] - UBS analysts expect Amer Sports to continue exceeding revenue expectations in Q2, maintaining a buy rating and raising the target price from around $37 to $50 [5] - Amer Sports has seen a remarkable 224% return on investment over the past year, with several investment firms maintaining positive ratings due to the growth potential of brands like Arc'teryx and Salomon [5]