LVMH reports 3.0% organic growth in revenue for Q1
Advertisement
- LVMH reported its revenue for the first quarter on Tuesday.
- The luxury fashion giant says it's confident at the start of the year.
- LVMH stock is currently down over 10% versus its YTD high.
Follow Invezz on Telegram, Twitter, and Google News for instant updates >
LVMH (EPA: MC) – the company behind luxury fashion brand Louis Vuitton is in the red at writing after reporting its revenue for the first quarter.
Advertisement
Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.
LVMH did well in all major markets
Copy link to sectionThe multinational reported €20.7 billion ($22 billion) in revenue as organic revenue popped 3.0% on a year-over-year basis in Q1.
Advertisement
LVMH said it was in green not just in the United States but in Europe, Japan and the rest of Asia as well. The French giant wrote in a press release on Tuesday:
In an uncertain geopolitical and economic environment, LVMH remains both vigilant and confident at the start of the year.
A 2.0% annualised growth in fashion and leather goods business came in line with expectations today. LVMH stock is now down well over 10% versus its year-to-date high.
What else was notable in LVMH’s Q1 update?
Copy link to sectionComparable sales at watches and jewelry as well as wines and spirits were down on a year-over-year basis (2.0% for the former and 12% for the latter).
LVMH did offset that weakness with a 7.0% increase in its perfumes and cosmetics segment while selective retailing also came in up 11% for Q1 on Tuesday.
[LVMH] will continue to pursue its strategy focused on development of brands, driven by sustained policy of innovation and investment [and] a constant quest for quality in its products.
Note that analysts at HSBC recently told clients that LVMH needs upgrades for its stock to climb higher and those upgrades were not very likely to materialise any time soon. LVMH does, however, pay a dividend yield of 1.66% at writing.
Advertisement
Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.