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☆ 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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