LVMH Q2 Organic Revenue Grows 3% to Beat Estimates as Fashion Rebounds
LVMH posted second-quarter revenue of €19.52 billion, surpassing analyst expectations, with total organic revenue rising 3% against a 2.32% forecast. Wines and spirits sales increased 5% while beating estimates, contributing to the top-line performance.
Fashion and leather goods sales grew 1%, marking a return to growth but missing the 1.52% estimate. A rebound at Dior helped the fashion business, which also includes Louis Vuitton, even as sales for the unit barely eked out gains due to the conflict in the Middle East deterring wealthy shoppers.
From the sources (4 posts)
@firstsquawkLVMH'S 2Q WINES & SPIRITS SALES ROSE BY 5%, WHILE ESTIMATES WERE -1.94%. 2Q REVENUE AT EU19.52B BEAT EXPECTATIONS OF EU19.34B. FASHION & LEATHER SALES INCREASED BY 1%, WHICH WAS LOWER THAN THE 1.52% ESTIMATE. OVERALL, 2Q ORGANIC REV
@ftDior rebound helps LVMH’s fashion business return to growth
@businessSales at LVMH’s key fashion and leather goods unit, home to Louis Vuitton and Dior, barely eked out growth last quarter as the conflict in the Middle East deterred wealthy shoppers
@fiscal_aiLVMH Q2 Revenue by Product Category Fashion & Leather Goods -1% Selective Retailing -2% Watches & Jewelry +7% Perfumes & Cosmetics -1% Wine & Spirits +3% $LVMH