LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
Hermes International (OTC:HESAF)(EPA:HRMS) shares fell 6%, while shares of LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMUY) (EPA:LVMH) dropped 5% as stocks of European luxury brands fell broadly on Tuesday. Bloomberg reported that international demand, especially in China, has taken a hit.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
REKLAMA
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
On the downside, several luxury brands took a hit in the European market, with Burberry Group down 2.45%, while LVMH Moet Hennessy and Hermes International both experienced a 2.64% decrease.
The downturn in the high-end fashion houses came on the back of the weaker data out of China - a significant market for luxury goods.
The downturn in the high-end fashion houses came on the back of the weaker data out of China - a significant market for luxury goods.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
Shares of the world's second-biggest luxury firm Richemont dropped 8.0% and were set for their sharpest one-day percentage fall in over a year after weakness in the Americas weighed on first-quarter organic sales growth.
"Up until now, consumption in the U.S. has held up remarkably well, despite the aggressive tightening from the Fed. The Richemont results suggest we are starting to see this curtailment in spending," said Stuart Cole, chief macroeconomist at Equiti Capital.
Shares of other luxury giants such as LVMH, which is Europe's most valuable company, Hermes and Kering (EPA:PRTP) shed between 1% and 3.7%.
The personal and household goods index, housing luxury firms, was the biggest sectoral loser, down 2.2%.
Further hurting sentiment on Monday, data signalled China's economy grew at a frail pace in the second quarter on weaker demand, raising pressure on policymakers to deliver more stimulus.
"We are left with a picture of both U.S. and Chinese consumption slowing, and the market is responding to this double whammy of bad news by marking down stock prices," said Cole.
"Up until now, consumption in the U.S. has held up remarkably well, despite the aggressive tightening from the Fed. The Richemont results suggest we are starting to see this curtailment in spending," said Stuart Cole, chief macroeconomist at Equiti Capital.
Shares of other luxury giants such as LVMH, which is Europe's most valuable company, Hermes and Kering (EPA:PRTP) shed between 1% and 3.7%.
The personal and household goods index, housing luxury firms, was the biggest sectoral loser, down 2.2%.
Further hurting sentiment on Monday, data signalled China's economy grew at a frail pace in the second quarter on weaker demand, raising pressure on policymakers to deliver more stimulus.
"We are left with a picture of both U.S. and Chinese consumption slowing, and the market is responding to this double whammy of bad news by marking down stock prices," said Cole.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
PARIS (Reuters) -Sales at the world's top luxury group LVMH rose by 17% in the second quarter, with a sharp rebound in China helping to offset a decline in the United States, where inflation and economic turbulence have dented demand for high-end goods.
The French company, whose 75 brands include fashion labels Louis Vuitton and Dior as well as Hennessy cognac and U.S. jeweller Tiffany, said on Tuesday it made 21.2 billion euros ($23.4 billion) of sales in the three months to the end of June.
The 17% increase at constant exchange rates was a touch better than analyst expectations for 16% growth, according to a Visible Alpha consensus.
LVMH's leather goods division, home to Vuitton and Dior, grew revenues by 21%, also just above the expected 20% increase.
The narrow beat for a company that routinely delivers results ahead of expectations, and is regarded as a bellwether for the luxury industry, led some analysts to say the sector was moving towards a more steady path after years of stellar growth as consumer demand normalises after the post-pandemic euphoria.
Finance chief Jean-Jacques Guiony told reporters he was "very satisfied" with the rebound in China, which makes up the bulk of Asian sales. The region - excluding Japan - posted 34% growth compared to last year, when strict COVID-19 restrictions hit sales and emptied stores in China.
But he refrained from giving an outlook for the rest of the year.
The pace of the Chinese recovery and future growth prospects have become a major talking point among investors after lacklustre economic data and cautious comments from Cartier-owner Richemont weighed on luxury shares last week.
"The global mood is not one of revenge buying like we saw in 2021 and 2022, so we're talking more about normalisation than anything else," Guiony said.
"We have no visibility, we are not pessimistic and don't have a reason to be in China. In the United States, we see it's not as good as it was," he added. U.S. sales fell by 1% over the period, with weak cognac sales dragging down the wines and spirits division.
The decline in demand for entry level products in the United States has not been seen in China, Guiony said. High youth unemployment in China, where the average age of consumers is 28, younger than other parts of the world, has been a particular source of concern for the industry.
The French company, whose 75 brands include fashion labels Louis Vuitton and Dior as well as Hennessy cognac and U.S. jeweller Tiffany, said on Tuesday it made 21.2 billion euros ($23.4 billion) of sales in the three months to the end of June.
The 17% increase at constant exchange rates was a touch better than analyst expectations for 16% growth, according to a Visible Alpha consensus.
LVMH's leather goods division, home to Vuitton and Dior, grew revenues by 21%, also just above the expected 20% increase.
The narrow beat for a company that routinely delivers results ahead of expectations, and is regarded as a bellwether for the luxury industry, led some analysts to say the sector was moving towards a more steady path after years of stellar growth as consumer demand normalises after the post-pandemic euphoria.
Finance chief Jean-Jacques Guiony told reporters he was "very satisfied" with the rebound in China, which makes up the bulk of Asian sales. The region - excluding Japan - posted 34% growth compared to last year, when strict COVID-19 restrictions hit sales and emptied stores in China.
But he refrained from giving an outlook for the rest of the year.
The pace of the Chinese recovery and future growth prospects have become a major talking point among investors after lacklustre economic data and cautious comments from Cartier-owner Richemont weighed on luxury shares last week.
"The global mood is not one of revenge buying like we saw in 2021 and 2022, so we're talking more about normalisation than anything else," Guiony said.
"We have no visibility, we are not pessimistic and don't have a reason to be in China. In the United States, we see it's not as good as it was," he added. U.S. sales fell by 1% over the period, with weak cognac sales dragging down the wines and spirits division.
The decline in demand for entry level products in the United States has not been seen in China, Guiony said. High youth unemployment in China, where the average age of consumers is 28, younger than other parts of the world, has been a particular source of concern for the industry.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
Investing.com -- Shares in LVMH Moët Hennessy Louis Vuitton SE (EPA:LVMH) slipped on Wednesday after sales at the world's largest luxury group narrowly beat expectations in the second quarter, which some investors interpreted as a sign that a post-pandemic boom in demand for high-end products is cooling.
The French company posted a 17% jump in sales in the three months to the end of June, only slightly topping estimates of 16%, according to a Visible Alpha consensus quoted by Reuters.
While performance in China was strong, sales in the U.S. declined by 1% as inflation-wary consumers chose to rein in spending on LVMH's pricier goods.
"The print has shown that the return of Chinese consumer is not fully offsetting the near-term slow-down elsewhere, which has spooked investors this earnings season," analysts at UBS said in a note to clients.
LVMH, which includes famous fashion brands like Dior and Louis Vuitton as well as cognac maker Hennessy, often serves as a bellwether for the larger luxury industry. As such, the only marginally better-than-anticipated top-line result weighed on shares of rivals Kering (EPA:PRTP) and Richemont (SIX:CFR).
Speaking to reporters, LVMH finance chief Jean-Jacques Guiony noted: "The global mood is not one of revenge buying like we saw in 2021 and 2022, so we're talking more about normalization than anything else."
The French company posted a 17% jump in sales in the three months to the end of June, only slightly topping estimates of 16%, according to a Visible Alpha consensus quoted by Reuters.
While performance in China was strong, sales in the U.S. declined by 1% as inflation-wary consumers chose to rein in spending on LVMH's pricier goods.
"The print has shown that the return of Chinese consumer is not fully offsetting the near-term slow-down elsewhere, which has spooked investors this earnings season," analysts at UBS said in a note to clients.
LVMH, which includes famous fashion brands like Dior and Louis Vuitton as well as cognac maker Hennessy, often serves as a bellwether for the larger luxury industry. As such, the only marginally better-than-anticipated top-line result weighed on shares of rivals Kering (EPA:PRTP) and Richemont (SIX:CFR).
Speaking to reporters, LVMH finance chief Jean-Jacques Guiony noted: "The global mood is not one of revenge buying like we saw in 2021 and 2022, so we're talking more about normalization than anything else."
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
A nawet przebicie oczekiwań może teraz nie wystarczyć.
LVMH (EPA:LVMH) Najcenniejsza firma w Europie, straciła w środę 5 proc. swojej wartości rynkowej po tym, jak poinformowała o wzroście sprzedaży, który był zgodny z oczekiwaniami, ale przedstawił mniej optymistyczną prognozę.
Poza drugim kwartałem perspektywy są raczej ponure.
Podczas gdy do tej pory klienci generalnie byli w stanie znieść wyższe ceny, nie jest jasne, jak bardzo potencjalny spadek konsumentów może uderzyć w marże, powiedział Pinon z Carmignac.
"Kluczowym pytaniem na przyszłość jest to, w jaki sposób dezinflacja i spowolnienie gospodarcze wpłyną na wydatki, wraz z ryzykiem rozwoju wojen cenowych" - powiedział Pinon.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
#LVMH will pay a 5.50 euros per share dividend for 2023, up 10% from last year. #France #dividends
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
Narażeni na sprzedaż kopalń w Chinach spadli czwartą sesję z rzędu, spadając o 1,5% po tym, jak dane z drugiej co do wielkości gospodarki świata pokazały, że sprzedaż detaliczna, produkcja przemysłowa i inwestycje rosną w wolniejszym niż oczekiwano tempie.
Nawet gdy chiński bank centralny obniżył we wtorek podstawowe stopy procentowe, analitycy twierdzą, że potrzebne jest większe wsparcie, aby ożywić wzrost.
"Negatywne nastroje w Chinach (są) widoczne, ponieważ Europa z natury jest gospodarką otwartą, a jej orientacja eksportowa jest skierowana na Chiny" - powiedział Bruckner.
Luksusowi potentaci LVMH, Hermes i Kering (EPA:PRTP), które mają dużą ekspozycję na Chiny, spadli między 1,3% a 1,6%.
HSBC, największy europejski bank, który prowadzi również działalność w Chinach, spadł o 2,3%, ważąc na STOXX 600.
Nawet gdy chiński bank centralny obniżył we wtorek podstawowe stopy procentowe, analitycy twierdzą, że potrzebne jest większe wsparcie, aby ożywić wzrost.
"Negatywne nastroje w Chinach (są) widoczne, ponieważ Europa z natury jest gospodarką otwartą, a jej orientacja eksportowa jest skierowana na Chiny" - powiedział Bruckner.
Luksusowi potentaci LVMH, Hermes i Kering (EPA:PRTP), które mają dużą ekspozycję na Chiny, spadli między 1,3% a 1,6%.
HSBC, największy europejski bank, który prowadzi również działalność w Chinach, spadł o 2,3%, ważąc na STOXX 600.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
Europejskie akcje dóbr luksusowych, w tym LVMH, Kering (EPA:PRTP), Richemont i Burberry Group Plc, doświadczyły spadku we wtorek. Spadek ten jest następstwem ostrzeżenia wydanego przez analityków Morgan Stanley o potencjalnym spowolnieniu popytu na wysokiej klasy torebki i biżuterię w Chinach i Europie.
Akcje LVMH spadły do 2,3%, co oznacza ogólny spadek o około 22% w stosunku do szczytu z roku. Podobnie Richemont odnotował spadek do 3,3%. Tendencja spadkowa rozszerzyła się na Kering i Burberry Group Plc, które również odnotowały spadek ich akcji.
Ta reakcja rynku została wywołana przez zespół analityków Morgan Stanley, kierowany przez Edouarda Aubina, który zrewidował swoje prognozy wzrostu na drugą połowę roku dla większości marek luksusowych. Skorygowali również w dół swoje prognozy zysków na 2024 r. ze względu na oznaki słabnącego popytu w Chinach w miesiącach letnich i słabszego rynku w Europie.
Pomimo ostatnich spadków, które popchnęły sektor dóbr luksusowych w kierunku tak zwanego "terytorium wartości", Aubin ostrzegł przed kupowaniem akcji już teraz. Spodziewa się słabej stopy wyjścia w kwartale, co jego zdaniem podsyci dyskusje na temat normalizacji popytu.
Poglądy Morgan Stanley odzwierciedlają poglądy innych analityków, którzy ostatnio wyrażali niedźwiedzie nastroje wobec sektora luksusowego. Na początku tego miesiąca analityk Barclays Carole Madjo obniżyła swoją rekomendację dla LVMH, podczas gdy firma zmieniła perspektywę sektora z pozytywnej na neutralną. Europejscy stratedzy Deutsche Banku obniżyli również rating sektora produktów konsumenckich ze względu na ekspozycję marek luksusowych na Chiny. Analitycy Jefferies i Goldman Sachs Group Inc (NYSE:GS). Przewiduj nadchodzące burzliwe czasy.
Oprócz tych zmian, Richemont został zdegradowany do equal-weight z overweight przez Morgan Stanley's ww. analityka p. Aubin. Natomiast podniósł rekomendację Prada (OTC:PRDSY) z equal-weight do overweigh. Docelowe ceny dla LVMH, Kering, Moncler SpA (BIT:MONC), a kilka innych akcji spółek luksusowych również zostało zrewidowanych w dół przez analityka.
Akcje LVMH spadły do 2,3%, co oznacza ogólny spadek o około 22% w stosunku do szczytu z roku. Podobnie Richemont odnotował spadek do 3,3%. Tendencja spadkowa rozszerzyła się na Kering i Burberry Group Plc, które również odnotowały spadek ich akcji.
Ta reakcja rynku została wywołana przez zespół analityków Morgan Stanley, kierowany przez Edouarda Aubina, który zrewidował swoje prognozy wzrostu na drugą połowę roku dla większości marek luksusowych. Skorygowali również w dół swoje prognozy zysków na 2024 r. ze względu na oznaki słabnącego popytu w Chinach w miesiącach letnich i słabszego rynku w Europie.
Pomimo ostatnich spadków, które popchnęły sektor dóbr luksusowych w kierunku tak zwanego "terytorium wartości", Aubin ostrzegł przed kupowaniem akcji już teraz. Spodziewa się słabej stopy wyjścia w kwartale, co jego zdaniem podsyci dyskusje na temat normalizacji popytu.
Poglądy Morgan Stanley odzwierciedlają poglądy innych analityków, którzy ostatnio wyrażali niedźwiedzie nastroje wobec sektora luksusowego. Na początku tego miesiąca analityk Barclays Carole Madjo obniżyła swoją rekomendację dla LVMH, podczas gdy firma zmieniła perspektywę sektora z pozytywnej na neutralną. Europejscy stratedzy Deutsche Banku obniżyli również rating sektora produktów konsumenckich ze względu na ekspozycję marek luksusowych na Chiny. Analitycy Jefferies i Goldman Sachs Group Inc (NYSE:GS). Przewiduj nadchodzące burzliwe czasy.
Oprócz tych zmian, Richemont został zdegradowany do equal-weight z overweight przez Morgan Stanley's ww. analityka p. Aubin. Natomiast podniósł rekomendację Prada (OTC:PRDSY) z equal-weight do overweigh. Docelowe ceny dla LVMH, Kering, Moncler SpA (BIT:MONC), a kilka innych akcji spółek luksusowych również zostało zrewidowanych w dół przez analityka.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
PARIS (Reuters) -Luxury goods bellwether LVMH reported a 9% rise in third quarter revenue on Tuesday, marking slower growth as a strong wave of post-pandemic spending eases due to rising inflation and economic turbulence.
“After three roaring years, and outstanding years, growth is converging toward numbers that are more in line with historical average", LVMH chief financial officer Jean-Jacques Guiony told analysts.
LVMH, which owns labels including Louis Vuitton, Dior, Tiffany and Bulgari, said revenue came to 19.96 billion euros ($21.16 billion), up 9% year-on-year, stripping out the effect of currency fluctuations and acquisitions. Total revenue rose 1% year-on-year.
The fashion and leather goods division, home to Louis Vuitton and Dior, recorded sales growth of 9%, compared to analysts' expectations for 10% growth.
LVMH is facing slowing demand for high end goods in the United States and Europe, where rising prices have prompted shoppers — especially younger generations — to pull back from a post-pandemic spending euphoria, while the recovery in China has been uneven.
Guiony noted that while business slowed in Europe over the quarter, there was not a marked change in demand for fashion and leather goods from China compared to two years ago, except that more purchases are being made outside of the mainland as travel resumes.
In the United States, there was little change in trends, according to Guiony.
The wines and spirits division posted a 14% revenue decline over the quarter, with the company flagging less demand for Champagne over the period, while the weak economic environment in the U.S., and a slower-than-expected bounce back in China affected demand for Hennessy cognac.
LVMH is the first major global luxury firm to report earnings this quarter and gives investors an insight into what to expect from rivals. Hermes and Kering (EPA:PRTP) report on Oct. 24.
"This seems good enough to support the share price, as buyside expectations were possibly more muted, as the significant market derating suggests," said Luca Solca, analyst with Bernstein, noting the company faced a tougher comparison period following strong performances in China, the United States and Europe a year ago.
Investors have recently lowered their expectations for the luxury sector and around 96 billion euros has been knocked off the value of LVMH since April.
The French luxury group was last month unseated as Europe's most valuable listed company after a 2-1/2 year long reign by Danish drugmaker Novo Nordisk (NYSE:NVO) NOVOb.CO, which was boosted by the growth of anti-obesity drug Wegovy.
A stronger euro against the U.S. dollar than a year earlier also impacted the company as U.S. sales were worth less when converted back into its home currency. The negative currency impact was worse than anticipated, said Guiony, noting he expected it to negatively affect margins in the second half, although some of that would be offset by hedging strategies.
“After three roaring years, and outstanding years, growth is converging toward numbers that are more in line with historical average", LVMH chief financial officer Jean-Jacques Guiony told analysts.
LVMH, which owns labels including Louis Vuitton, Dior, Tiffany and Bulgari, said revenue came to 19.96 billion euros ($21.16 billion), up 9% year-on-year, stripping out the effect of currency fluctuations and acquisitions. Total revenue rose 1% year-on-year.
The fashion and leather goods division, home to Louis Vuitton and Dior, recorded sales growth of 9%, compared to analysts' expectations for 10% growth.
LVMH is facing slowing demand for high end goods in the United States and Europe, where rising prices have prompted shoppers — especially younger generations — to pull back from a post-pandemic spending euphoria, while the recovery in China has been uneven.
Guiony noted that while business slowed in Europe over the quarter, there was not a marked change in demand for fashion and leather goods from China compared to two years ago, except that more purchases are being made outside of the mainland as travel resumes.
In the United States, there was little change in trends, according to Guiony.
The wines and spirits division posted a 14% revenue decline over the quarter, with the company flagging less demand for Champagne over the period, while the weak economic environment in the U.S., and a slower-than-expected bounce back in China affected demand for Hennessy cognac.
LVMH is the first major global luxury firm to report earnings this quarter and gives investors an insight into what to expect from rivals. Hermes and Kering (EPA:PRTP) report on Oct. 24.
"This seems good enough to support the share price, as buyside expectations were possibly more muted, as the significant market derating suggests," said Luca Solca, analyst with Bernstein, noting the company faced a tougher comparison period following strong performances in China, the United States and Europe a year ago.
Investors have recently lowered their expectations for the luxury sector and around 96 billion euros has been knocked off the value of LVMH since April.
The French luxury group was last month unseated as Europe's most valuable listed company after a 2-1/2 year long reign by Danish drugmaker Novo Nordisk (NYSE:NVO) NOVOb.CO, which was boosted by the growth of anti-obesity drug Wegovy.
A stronger euro against the U.S. dollar than a year earlier also impacted the company as U.S. sales were worth less when converted back into its home currency. The negative currency impact was worse than anticipated, said Guiony, noting he expected it to negatively affect margins in the second half, although some of that would be offset by hedging strategies.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
LVMH spadł o 6% 
na początku po tym, jak grupa poinformowała, że organiczny wzrost przychodów spadł do 9% w trzecim kwartale, znacznie poniżej 11,2% wzrostu oczekiwanego przez analityków. W szczególności sprzedaż w dziale win i napojów spirytusowych spadła o 14%, powodując spadek udziałów w innej firmie Pernod Ricard.
"Podczas gdy luksus jest ostatnio silnym sektorem, biorąc pod uwagę, że klienci o wysokich dochodach rozporządzalnych są stosunkowo chronieni przed presją kosztów utrzymania, wyniki LVMH, pierwszego w sektorze, wydają się sugerować, że okres hitu luksusowego zaczyna zanikać" - powiedział Victoria Scholar, szef inwestycji w Interactive Investor.
na początku po tym, jak grupa poinformowała, że organiczny wzrost przychodów spadł do 9% w trzecim kwartale, znacznie poniżej 11,2% wzrostu oczekiwanego przez analityków. W szczególności sprzedaż w dziale win i napojów spirytusowych spadła o 14%, powodując spadek udziałów w innej firmie Pernod Ricard."Podczas gdy luksus jest ostatnio silnym sektorem, biorąc pod uwagę, że klienci o wysokich dochodach rozporządzalnych są stosunkowo chronieni przed presją kosztów utrzymania, wyniki LVMH, pierwszego w sektorze, wydają się sugerować, że okres hitu luksusowego zaczyna zanikać" - powiedział Victoria Scholar, szef inwestycji w Interactive Investor.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki
Investing.com -- Shares in LVMH (EPA:LVMH) slumped on Wednesday after the luxury goods empire unveiled a slowdown in sales in the third quarter.
In a statement late on Tuesday, the Paris-based owner of high-end brands like Marc Jacobs and Christian Dior reported organic revenue growth of 9% during the quarter, down from 17% in the prior three-month period. Cooling growth in Europe and the Asian region excluding Japan offset a slight quarter-on-quarter uptick in the U.S. and Japan.
The pace of sales in its fashion, cosmetics and jewelry units all decelerated, while a second-quarter contraction in revenue at its wines and spirits business deepened. Analysts said the figures reflect an easing in demand from aspirational customers for luxury products.
"[T]his seems a sign of continuing moderation, as consumers sober up after the post-pandemic euphoria," analysts at Bernstein said in a note to clients.
LVMH said it remained confident in the "continuation of its growth" looking ahead, but warned of lingering economic and geopolitical uncertainty.
In a statement late on Tuesday, the Paris-based owner of high-end brands like Marc Jacobs and Christian Dior reported organic revenue growth of 9% during the quarter, down from 17% in the prior three-month period. Cooling growth in Europe and the Asian region excluding Japan offset a slight quarter-on-quarter uptick in the U.S. and Japan.
The pace of sales in its fashion, cosmetics and jewelry units all decelerated, while a second-quarter contraction in revenue at its wines and spirits business deepened. Analysts said the figures reflect an easing in demand from aspirational customers for luxury products.
"[T]his seems a sign of continuing moderation, as consumers sober up after the post-pandemic euphoria," analysts at Bernstein said in a note to clients.
LVMH said it remained confident in the "continuation of its growth" looking ahead, but warned of lingering economic and geopolitical uncertainty.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
REKLAMA
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