PARIS :LVMH shares, which hit a record high earlier this month, fell on Friday as some analysts aired disappointment at the company's margins, taking some of the shine off a fourth-quarter sales rise.The French luxury goods group reported late on Thursday that its sales rose 9 per cent in the fourth quarter a
PARIS :LVMH shares, which hit a record high earlier this month, fell on Friday as some analysts aired disappointment at the company's margins, taking some of the shine off a fourth-quarter sales rise.
The French luxury goods group reported late on Thursday that its sales rose 9 per cent in the fourth quarter as shoppers in Europe and the United States splurged over the crucial 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 – largely a reflection of maintaining/raising H2 marketing spend despite disrupted revenue growth," Credit Suisse analysts wrote in a note.
LVMH chief financial officer Jean Jacques Guiony said on Thursday that it decided to maintain marketing investments in the second half, at a level of 30 per cent higher than the previous year despite lower revenue growth, but had not expected such a sharp decline in business in China in December. Guiony also said that LVMH's strategy of parallel channels for its perfumes and cosmetics division was"a costly decision" that drove down profitability, but that it was"the right decision" and will protect the appeal of its labels.
The division's profit from recurring operations came to 660 million euros for the year, a fall of 3 per cent.
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LVMH shares fall as margins disappointment takes shine off Q4 figuresPARIS : LVMH shares, which had hit a record high earlier this month, fell on Friday as some analysts expressed an element of disappointment over the company's margins, which took some of the shine off its fourth-quarter figures.LVMH reported late on Thursday that its sales rose 9 per cent in the fourth qu
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Luxury giant LVMH sales rise 9% in fourth quarterPARIS :Luxury goods group LVMH posted a 9 per cent rise in sales in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping to partly offset COVID disruptions in China.Sales at the world's biggest luxury group came to 22.7 billion euros ($24.65 billion)
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Luxury group LVMH's sales defy downturn as shoppers splurgePARIS :Luxury goods group LVMH's sales rose 9 per cent in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping to partly offset COVID disruptions in China.Sales at the world's biggest luxury group reached 22.7 billion euros ($24.65 billion) in the fi
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