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☆ I shopped Sephora and Ulta to compare selection and experience. There was a clear winner in each category.
▼ + stars: | 2023-11-03 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +2 min

AdvertisementAdvertisementAmong the stores Gen Z shops the most, Sephora and Ulta are neck-and-neck for the top beauty stores. But in the most recent survey, Sephora moved to the number one slot. AdvertisementAdvertisementThe Piper Sandler survey also found that both brands have some of the most successful loyalty programs among Gen Z. Of the female teens surveyed with membership accounts, 67% are Sephora Beauty Insiders, and 60% are ULTAmate rewards members. I visited Sephora and Ulta to see how they compare and what draws Gen Z to both brands.

Persons: Sephora, Ulta, —, Piper Sandler's, Gen Z, Louis Vuitton, Jean, Jacques Guiony, Piper Sandler, Gen, Z Organizations: Service, Gen, LVMH, Dior

☆ LVMH sales growth loses fizz as post-pandemic splurge wanes
▼ + stars: | 2023-10-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

People walk past the Louis Vuitton store at Miami Design District, in Miami, Florida, U.S. November 30, 2021. REUTERS/Marco Bello Acquire Licensing RightsPARIS, Oct 10 (Reuters) - Luxury goods bellwether LVMH (LVMH.PA) reported a 9% rise in third quarter revenue on Tuesday, marking slower growth as a strong wave of post-pandemic spending eases due to rising inflation and economic turbulence. “After three roaring years, and outstanding years, growth is converging toward numbers that are more in line with historical average", LVMH chief financial officer Jean-Jacques Guiony told analysts. The fashion and leather goods division, home to Louis Vuitton and Dior, recorded sales growth of 9%, compared to analysts' expectations for 10% growth. LVMH is the first major global luxury firm to report earnings this quarter and gives investors an insight into what to expect from rivals.

Persons: Louis Vuitton, Marco Bello, Jean, Jacques Guiony, Tiffany, Bulgari, Hennessy, Luca Solca, Bernstein, Guiony, Mimosa Spencer, Ingrid Melander, Josie Kao Organizations: Miami Design District, REUTERS, Rights, Dior, Champagne, drugmaker Novo Nordisk, U.S ., Thomson Locations: Miami , Florida, U.S, United States, Europe, China

☆ Tapestry and Capri are combining in an $8.5 billion deal
▼ + stars: | 2023-08-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

Tapestry Inc., which owns Kate Spade and Coach, announced Thursday that it’s acquiring Capri Holdings, the parent company of Michael Kors and Versace. The $8.5 billion deal could help them better compete against their higher-end European rivals. Under terms of the deal, Capri shareholders will get $57 per share. Coach changed its parent name to Tapestry in 2017 and Michael Kors switched to Capri after it bought Versace in 2018. Those warning signs have “put pressure on Tapestry and Capri, both of which are now looking to international markets to bolster growth,” Saunders said.

Persons: New York CNN — Michael Kors, Kate Spade, Michael Kors, Versace, Stuart Weitzman, Jimmy Choo, Neil Saunders, ”, Jean, Jacques Guiony, ” Saunders Organizations: New, New York CNN, Tapestry Inc, Capri Holdings, ”, Capri Locations: New York, United States

☆ Major global firms warn of slow China sales as post-pandemic surge fades
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +4 min

Aug 2 (Reuters) - From consumer goods giant Unilever (ULVR.L) to automaker Nissan (7201.T) and machinery maker Caterpillar (CAT.N), global firms have warned of slowing earnings in China as the world's second-largest economy loses its post-pandemic bounce. A continued rebound has been limited to a handful of sectors such as dining and luxury goods, driving double-digit China sales growth for the likes of Starbucks (SBUX.O) and LVMH (LVMH.PA). Volkswagen (VOWG_p.DE) cut its full-year sales target last week due to a sales dip in China, its top market. "Unfortunately, our (China) sales outlook is now falling far below our production capacity," Nissan CEO Makoto Uchida said last week. "We mentioned during our last earnings call that we expected sales in China to be below the typical 5% to 10% of our enterprise sales.

Persons: Graeme Pitkethly, we're, Makoto Uchida, Jim Umpleby, Jacob Stausholm, Louis Vuitton, Tiffany, Jean, Jacques Guiony, Mimosa Spencer, Sophie Yu, Brenda Goh, Richa Naidu, Melanie Burton, Daniel Leussink, Victoria Waldersee, Miranda Murray, Rishav Chatterjee, Deborah Sophia, Ananya Mariam Rajesh, Yuvraj Malik, Miyoung Kim, Christopher Cushing Organizations: Unilever, Nissan, Caterpillar, Starbucks, Procter, Gamble, L'Oreal, Global, Volkswagen, Samsung, SK Hynix, Apple, Rio Tinto, Tinto, Yum, HK, KFC, Kailyn, Thomson Locations: China, KS, Rio, Yum China, Kailyn Rhone, New York, Paris, Beijing, Shanghai, London, Melbourne, Tokyo, Victoria, Berlin, Bengaluru

☆ The 'aspirational' luxury shopper is suffering, but don't expect any deals
▼ + stars: | 2023-07-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

US consumers earning less than $100,000 fueled record profits last year for French luxury group LVMH. These "aspirational" customers are now pulling back on spending as pandemic cash reserves run dry. Important as these shoppers are, don't expect to see huge markdowns from Louis Vuitton and Dior. "The cost of all these initiatives was obviously quite high," Guiony said. Not every luxury brand can pull this strategy off, but it appears LVMH certainly can.

Persons: Louis Vuitton, that's, Christian Dior, Tiffany, LVMH, Jean, Jacques Guiony, Neil Saunders, Saunders, Michael Kors, Guiony, Hitha Herzog, Herzog, Pharrell Williams Organizations: Dior, Service, Louis Locations: Wall, Silicon, Asia, Pont, Paris

☆ LVMH earnings suggest luxury spending is suddenly slowing in the U.S.
▼ + stars: | 2023-07-25 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

During the LVMH earnings call Tuesday, CFO Jean-Jacques Guiony said sales dropped in the U.S. as aspirational consumers no longer spent on entry-level products. LVMH's U.S. sales slid 1% in the second quarter from the prior-year period. LVMH's sales in Europe increased 18% in the second quarter, and Guiony said tourists accounted for nearly half of that growth. Overall, LVMH reported sales rose 17% in the quarter, helped by a 34% increase in Asia excluding Japan. Guiony said that despite signs the broader Chinese economy is slowing, luxury spending there is "strong" after lockdowns were lifted late last year.

Persons: Jean, Jacques Guiony, Richemont, Guiony, LVMH, Tiffany Organizations: Cartier, U.S ., U.S Locations: U.S, Europe, Paris, Rome, London, U.S . China, Asia, Japan, China

☆ Sharp Chinese rebound pushes LVMH sales up 17% in second quarter
▼ + stars: | 2023-07-25 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

PARIS, July 25 (Reuters) - Sales at the world's top luxury group LVMH (LVMH.PA) rose by 17% in the second quarter, with a sharp rebound in China helping to offset a decline in the United States, where inflation and economic turbulence have dented demand for high-end goods. The 17% increase at constant exchange rates was a touch better than analyst expectations for 16% growth, according to a Visible Alpha consensus. Finance chief Jean-Jacques Guiony told reporters he was "very satisfied" with the rebound in China, which makes up the bulk of Asian sales. The region - excluding Japan - posted 34% growth compared to last year, when strict COVID-19 restrictions hit sales and emptied stores in China. In the United States, we see it's not as good as it was," he added.

Persons: Louis Vuitton, Hennessy, Tiffany, Jean, Jacques Guiony, Cartier, Richemont, Guiony, Mimosa Spencer, Silvia Aloisi Organizations: Dior, Finance, Vuitton, Thomson Locations: China, United States, Japan

☆ LVMH owner Bernard Arnault reportedly visits China after luxury spending rebound
▼ + stars: | 2023-06-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

LVMH reported its first-quarter sales surged 17% from a year ago, beating analyst expectations, driven by a rebound in China’s luxury market from the downturn it experienced during the pandemic. Luxury goods spending bounced back more quickly than any other sector in the first quarter. Although the economic momentum has lost steam in the past couple of months, growth in luxury goods sales has accelerated. China was one of the world’s largest luxury goods markets before Covid hit. Bain & Co. estimated earlier this year that Chinese consumer spending accounted for around 17% of the global luxury market in 2022.

Persons: Hong Kong CNN — Bernard Arnault, Elon Musk, Morgan, Jamie Dimon, Musk, Caijing, Christian Dior, LVMH didn’t, LVMH, ”, Jean, Jacques Guiony, “, Li Qiang, ” Li Organizations: Hong Kong CNN, LVMH, WF, CNN, Consumers, Bain & Co Locations: Hong Kong, China, Beijing, ” Beijing

☆ 'Quiet luxury' is back for the first time since the Great Recession. Here's what it is and what brands stand to benefit.
▼ + stars: | 2023-04-16 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

The quiet luxury trend is dominating 2023 after years of trends like "dopamine dressing." David Russell/HBOLike most other fashion trends, the move toward quiet luxury, or "stealth wealth," is part of a cycle. Liz Hafalia/The San Francisco Chronicle via Getty ImagesAt this point, quiet luxury has become so popular that even luxury brands themselves are being asked about it. She also highlighted Italian luxury house Brunello Cucinelli, French leather goods firm Hermès, and Armani, who has been doing quiet luxury for nearly two decades. If that's a bit outside your budget, there are mass-market retailers partaking in what the quiet luxury trend is promoting: durable, sustainably made clothing in timeless fabrics and silhouettes.

☆ Analysis: LVMH's caution points to Americans' waning lust for luxury
▼ + stars: | 2023-04-13 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

[1/2] A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. European labels including LVMH's Louis Vuitton and Dior, as well as Chanel and Hermes have been riding a wave of strong demand from Americans, who emerged from lockdowns with savings and a desire to splash out on designer labels. He added the group is taking a cautious approach to price increases this year -- not just for cognac. "It's probably the most emblematic luxury store in the world," said Guiony. Elliott Savage, portfolio manager of U.S.-based fund YCG Investments, which holds shares in LVMH and other luxury brands, said a weakening U.S. luxury market in the near term could present an opportunity for dominant players to take market share.

☆ A flurry of news outside the portfolio has implications for 3 of our stocks
▼ + stars: | 2023-04-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Here are three noteworthy news developments over the past two days, which contain useful insights about our stocks. For the full year 2023, Novo now expects sales growth in the range of 24% and 30%, compared to prior estimates of 13% to 19%. In addition, operating profit growth is expected to be in the range of 28% and 34%, up from a prior range of 13% to 19%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ H&M highlights fast-fashion gloom as luxury takes hit in China
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +4 min

Shares in H&M, the world's No. 2 fashion retailer, fell as much as 6% in early trade after quarterly operating profit sank to 821 million Swedish crowns ($79.7 million) from 6.26 billion a year earlier. Zara has outperformed rivals after selling higher-priced garments and enticing shoppers who might have otherwise spent money at luxury stores. Disappointment over the impact of the China disruptions on its margins caused a record-breaking run in LVMH shares to briefly halt on Friday. The luxury industry is nevertheless expected to be one of the biggest winners from the loosening of restrictions that kept shoppers out of stores in China for months.

☆ LVMH shares lose recent lustre as China takes margin toll
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

PARIS, Jan 27 (Reuters) - LVMH (LVMH.PA) 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. However, some analysts focused on its flat margins. "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. The division's profit from recurring operations came to 660 million euros for the year, a fall of 3%. Reporting by Mimosa Spencer; Editing by Silvia Aloisi, Benoit Van Overstraeten and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

The world’s biggest luxury group logged revenue of €79.2 billion ($86.2 billion) and profit of €21.1 billion ($22.9 billion) for 2022, both up 23%. And in the coming months, “we have every reason to [be] confident, indeed optimistic, on the Chinese market,” LVMH (LVMHF) CEO Bernard Arnault said on a conference call. “In Macao, where Chinese can now travel to, the change is quite spectacular. He predicted, though, that Chinese tourists would not return in large numbers until at least the second half of the year. The removal of Chinese travel restrictions will likely also boost sales in overseas tourist destinations, the company added.

☆ Luxury group LVMH's sales defy downturn as shoppers splurge
▼ + stars: | 2023-01-26 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

REUTERS/Marco BelloPARIS, Jan 26 (Reuters) - Luxury goods group LVMH's (LVMH.PA) 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. LVMH has gained market share every year since 2019, its boss Bernard Arnault, the world's richest man, said. The group proposed a dividend of 12 euros per share, up from 10 euros a year ago. LVMH's shares have hit new highs this month, giving the luxury goods group a market capitalisation of 400 billion euros for the first time and cementing its lead as Europe's most valuable company.

☆ Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning
▼ + stars: | 2023-01-26 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Luxury giant LVMH said China's wealthy consumers have started returning to stores after the country's reopening and it remains optimistic about the year ahead. "We have every reason to be confident, indeed optimistic on China," LVMH CEO Bernard Arnault said during the company's earnings presentation. Bain & Co estimates that global luxury sales grew 22% in 2022, to over $380 billion, with the U.S. replacing China as the top market. Even if China rebounds, growth in luxury sales is likely to be slower this year. Bain estimates global sales could grow between 3% and 8% in 2023, depending on China's reopening and the U.S.

☆ LVMH's resilience gives luxury shares a boost amid economic gloom
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

"LVMH's 3Q22 print will likely reassure on the health of the high-end consumer in the run-up to the festive season," said Thomas Chauvet of Citi. He said he had seen no signs that lower product categories were underperforming -- a category that has been closely eyed for signs of weakness. Analysts have been on the look out for signs of weakness in more aspirational products as younger shoppers face rising living costs. Guiony flagged a strong performance in watches -- luxury products that tend to do well in an inflationary environment because they hold their value. Hermes and Kering (PRTP.PA) report third quarter sales on Oct. 20.

☆ Sales at the world's largest luxury brand jump on strong demand
▼ + stars: | 2022-10-11 | by ( ) www.nbcnews.com time to read: +2 min

French luxury goods giant LVMH beat market forecasts in the third quarter, posting a sharp rise in sales as wealthy shoppers splashed out on fashion and Americans in Europe made the most of the strong dollar. The world’s biggest luxury group, home to fashion brands such as Louis Vuitton and Dior, got an added boost from improved business in China as COVID-19 curbs eased. The group’s fashion and leather goods division led the jump in sales with a 22% increase on the same period a year ago. The third-quarter results for LVMH, which also owns Sephora and Bulgari, kicks off earnings season for the industry. Rivals Hermes and Gucci owner Kering will both report sales for the three months on Oct. 20.

☆ CEOs send mixed signals about consumer spending as split emerges between income levels
▼ + stars: | 2022-07-26 | by ( Robert Hum | ) www.cnbc.com time to read: +5 min

If the signals you're getting about the U.S. consumer seem mixed, there could be a very good reason for that: They are. In recent earnings conference calls, CEOs have been presenting more evidence that consumer spending patterns are bifurcating. Despite rampant inflation, the high-end consumer is remaining strong, but the low-end consumer is starting to buckle under the pressure. That comment came after the company, which owns brands such as Louis Vuitton and Tiffany, reported earnings Tuesday. On Tuesday, the company reported better-than-expected profit growth as price increases on its menu helped offset rising costs.

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