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LVMH Moët Hennessy - Louis Vuitton, Société Européenne (LVMUY)

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171.30-2.22 (-1.28%)
At close: 04:00PM EST
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  • Reuters

    LVMH's shares wobble after China takes margin toll

    PARIS (Reuters) -A record-breaking run in the shares of French luxury goods group LVMH halted briefly on Friday after the company's fourth quarter sales update prompted some disappointment over the impact of China disruption on its margins. The company, which owns dozens of high-end labels including fashion houses Louis Vuitton and Dior, late on Thursday reported that its sales rose 9% in the fourth quarter as shoppers in Europe and the United States splurged over the holiday season, helping partly to offset COVID-19 disruptions in China. "The slight wrinkle is on the margin, where the group delivered a flat operating margin year-on-year (versus consensus of +90 bps) – largely a reflection of maintaining/raising H2 marketing spend despite disrupted revenue growth," Credit Suisse analysts wrote in a note.

  • AFP News

    French luxury group LVMH posts record sales, net profit for 2022

    The world's top luxury group LVMH said Thursday that its sales and net profit both hit new heights last year, driven by strong demand in Europe and the United States."Europe, the United States and Japan rose sharply, benefiting from strong demand from local customers and the recovery of international travel.

  • Reuters

    Luxury group LVMH's sales defy downturn as shoppers splurge

    PARIS (Reuters) -Luxury goods group LVMH's sales rose 9% in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping partly to offset COVID disruptions in China. Sales at the world's biggest luxury group reached 22.7 billion euros ($24.65 billion) in the final three months of the year, with the 9% increase on an organic basis a touch above analyst expectations for 7% growth, based on a consensus cited by UBS. That marked a deceleration from the 20% growth recorded in the first nine months of the year, due to the hit in China from lockdowns and its subsequent exit from a zero-COVID policy, which has spurred a surge of infections in the world's second-largest economy.