LVMH Posts Consensus Beating 1Q Sales as Core Brands Lead the Charge -- Earnings Review
April 14 2021 - 2:29AM
Dow Jones News
By Joshua Kirby
LVMH Moet Hennessy Louis Vuitton SE released its first-quarter
sales results late Tuesday. Here's what we watched:
Sales: The French luxury-goods titan booked quarterly sales of
13.96 billion euros ($16.63 billion), up 30% on the year at
constant currencies. This was well above FactSet-compiled consensus
expectations of EUR12.58 billion and represents an 8% organic rise
on the first quarter of 2019.
WHAT WE WATCHED:
-TIFFANY: In the first period for which the U.S. jeweler was
integrated, LVMH's hard-luxury division posted record organic
revenue growth of 35%. "Tiffany saw an excellent start to the
year," the company said.
-CORE FASHION: The fashion & leather goods division, home to
sector-leading brands Louis Vuitton and Dior, posted the strongest
growth at 52% organically on the year, and 37% up on the same
period of 2019.
-OTHER SEGMENTS: All other divisions also posted positive
organic growth compared with the same period of 2020, with the
exception of selective retailing, which was down 5%. This segment
was squeezed by pandemic-related store closures and the lack of
tourism in Europe, LVMH said.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
April 14, 2021 02:14 ET (06:14 GMT)
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