Louis Vuitton’s ‘V-shaped recovery’ helps LVMH survive

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

South Africa Headlines News

Sales for the fashion and leather goods unit rose 18% on an organic basis in the fourth quarter, beating the 11% jump analysts expected

A Louis Vuitton shop in Sandton City, Johannesburg. Picture: SUNDAY TIMES

Demand from Chinese consumers, who have been spending at home with travel abroad virtually impossible, has helped LVMH withstand the effects of the pandemic. Revenue in Asia and Japan, respectively, rose 21% and 5% in the period, while Europe lagged behind with a drop of almost a quarter. Full-year profit from recurring operations was €8.3bn according to a statement on Tuesday. Analysts expected €7.2bn.

LVMH joins Richemont and Burberry in reporting upbeat performances in the last three months of 2020. But analysts at UBS led by Zuzanna Pusz said in a note on January 20 that the recent virus flare-up in China could weigh on luxury stocks in the short-term. “We see no particular reason we should be shutting down stores particularly in Europe,” Guiony said. “We think we can recover the lost business with tourists coming back and developing the local client base.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Couple of months ago I came across a recommendation about LisaTeddy12 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation

God bless you!! You're indeed a God sent to planet Earth, I never believed in her until I got my 4rh payout Charloteamelia7

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.