+++ Geschäftszahlen +++: Erwartungen verfehlt – Umsatzrückgang bei Luxuskonzern LVMH
Schaeffler – Umsatz stagniert +++ Duftstoffhersteller Givaudan wächst stärker als erwartet +++ Pepsi erwartet weniger Gewinn +++ TSMC steigert Quartalsumsatz um 51 Prozent +++ Der Newsblog.
LVMH, the luxury goods conglomerate, has fallen short of expectations for its quarterly revenue. The French company reported on Monday that sales of its fashion and leather goods brands, such as Louis Vuitton and Dior, were lower than anticipated. Unadjusted revenue grew by 1% year-over-year to €18.5 billion in the third quarter, compared to analysts' average estimate of a 1.3% increase.
The fashion and leather segment, which generates nearly half of the conglomerate's revenue, saw an organic revenue decline of 5%, surpassing the expected decrease of 1.8%. The company attributes the decline to a less dynamic market in China, while the US, Europe, and Japan continue to show "strong growth." The figures may increase market concern that the luxury sector, valued at $350 billion, may struggle to regain its previous momentum after three years of decline.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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