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Name | Symbol | Market | Type |
---|---|---|---|
LVMH Moet Hennessy Louis Vuitton SA (PK) | USOTC:LVMUY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.56 | 2.16% | 168.50 | 168.50 | 171.00 | 170.77 | 168.15 | 170.30 | 92,526 | 21:03:11 |
By Joshua Kirby
LVMH Moet Hennessy Louis Vuitton SE released its first-quarter sales results late Tuesday. Here's what we watched:
Sales: The French luxury-goods titan booked quarterly sales of 13.96 billion euros ($16.63 billion), up 30% on the year at constant currencies. This was well above FactSet-compiled consensus expectations of EUR12.58 billion and represents an 8% organic rise on the first quarter of 2019.
WHAT WE WATCHED:
-TIFFANY: In the first period for which the U.S. jeweler was integrated, LVMH's hard-luxury division posted record organic revenue growth of 35%. "Tiffany saw an excellent start to the year," the company said.
-CORE FASHION: The fashion & leather goods division, home to sector-leading brands Louis Vuitton and Dior, posted the strongest growth at 52% organically on the year, and 37% up on the same period of 2019.
-OTHER SEGMENTS: All other divisions also posted positive organic growth compared with the same period of 2020, with the exception of selective retailing, which was down 5%. This segment was squeezed by pandemic-related store closures and the lack of tourism in Europe, LVMH said.
Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby
(END) Dow Jones Newswires
April 14, 2021 02:14 ET (06:14 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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