View Post

LVMH First Half Profit Hit by Exchange Rates

In What's New, Industry News by Jeff Prine

Paris—LVMH—the world’s largest luxurygoods conglomerate—felt the sting of a “pressured” Asian market that pushed its profit and margins lower in the first half. Profit from recurring operations fell 5% to 2.58 billion euros (about $3.5 billion). Analysts had expected 2.76 billion euros. According to CFO Jean-Jacques Guiony, so-called organic sales …

View Post

LVMH’s Q3 18% Sales Increase Adds Optimistic Outlook for Luxurygoods Sales

In What's New, Industry News by Accessories Staff

Paris—If there’s a company that’s rightfully bullish on luxurygoods sales, it’s LVMH, which today reported 18% increase in its third quarter earrings to 6.01 billion euros (about $8.23 billion) Excluding currency swings and acquisitions, the sales increase beat analysts’ estimates for 5.85 billion euros for the quarter. Noting a continuation …

View Post

First NY Luxury Watch Show Opens May 14

In What's New, Industry News by Jeff Prine

New York—While most of the latest watch styles can only be  seen at tradeshows in either Basel or Geneva, Switzerland, organizers are putting finishing touches on what they call “New York’s first luxury watch show.” Scheduled for May 14 to 15, “TimeCrafters” is a watch-only event featuring the latest models …

View Post

European Stocks Rise as LVMH, Burberry Report Sales Gains

In Reports, What's New, Industry News by Accessories Staff

LVMH Q1 Sales Rise 17%, Strong Across All Categories Paris—LVMH, the world’s largest luxurygoods conglomerate, reported Monday that first-quarter revenue jumped 17% to 5.25 billion euros ($7.47 billion), with operations in the United States, Europe and Asia all enjoying “strong momentum.” LVMH’s sales beat beating analyst expectations for 4.95 billion …