LVMH Group's First Half Profit Decline, Leather Goods And Fashion Department Sales Again Slow Down

< p > < a > href= > http://sjfzxm.com/news/index_z.asp > < /a > after a brief first quarter recovery, the world's largest luxury group LVMH Mo t t Hennessy Louis Vuitton Louis (MOET & CHANDON) Hennessy Hennessy LV group's performance in the two quarter has met the market's concerns and the growth rate has slowed down again. < /p >
< p > from the two quarter and first half performance figures released yesterday, the Group recorded a real growth of 1.3% in the two quarter, increasing from 6 billion 719 million euros in the same period last year to 6 billion 803 million euros, with an organic growth rate of 3%, down from 6% in the first quarter. Among them, flagship luxury brand Louis Vuitton Louis Weedon's sales of fashion leather goods sales rose 2.7% to 2 billion 391 million euros, up 10.7% from the first quarter. An interview with Luca Solca, a bank analyst in Paris, France, said that although Louis Vuitton Louis Weedon vigorously innovates products, consumers, especially Chinese consumers, have not yet fully accepted their transformation. < /p >
< p > > a href= "http://sjfzxm.com/news/index_z.asp" > group < /a > in the earnings report, the US and Asian businesses continued to grow during the period, while Europe rebounded under challenging circumstances. However, Japan's consumption tax rate increased by 3 percentage points in April 1st seriously affected consumers' desire for luxury goods. < /p >
In the first half of the year, group sales totaled 14 billion euros, less than analysts expected 14 billion 349 million euros, 2.8% higher than last year, and organic growth rate of 5%. The profits of continuing operations decreased by 5% to 2 billion 576 million euros, much lower than analysts' forecasts of 2 billion 760 million euros, and operating margins shrank from 19.8% in the same period last year to 18%. Net profit is 1 billion 509 million euros. < /p >
In the first half of this year, the sales of fashion leather goods increased by 6.7% to 5 billion 30 million euros, with an organic growth rate of 4%, 3 percentage points lower than analysts' expectations, and 1 billion 487 million euros in continuing operating profit, which is basically the same as last year's P. The watches and jewellery Department sold 1 billion 266 million euros, down by less than 1% a year, organic growth rate was 3%, and operating profit fell 31% to 105 million euros, which also failed to reach analyst's goal. The earnings report pointed out that the above two sectors were particularly affected by the exchange rate, and the uncertainty of the economic environment also made the multi brand retailers cautious about the purchase of watches and luxury goods. < /p >
< p > sales of perfume and cosmetics sector increased by 1.9% to 1 billion 839 million euros, organic growth rate was 6%, and operating profit increased 2% to 204 million euros. Sales of wine and spirits sector dropped by 7%, a decrease of 1% based on comparable base and constant exchange rate, and a decline of 14.5% to 461 million euros in continuing profits, mainly due to China's crackdown on gifts, anti-corruption, and the reduction of inventory to Cognac's sales, and the champagne business was not affected, and the US market was flourishing. < /p >
< p > > a href= "http://sjfzxm.com/news/index_z.asp" > boutique < /a > sales in the retail sector increased by 4.4% to 4 billion 382 million euros, an organic growth rate of 9% and a sustained operating profit of 3.4 to 398 million euros. Sephora has continued to increase its market share in all regions, making rapid progress in Asia, the Middle East and North America, with strong online sales growth. DFS global duty-free shops continue to expand on the fast growth of Asian travelers. < /p >
< p > LVMH Mo t Hennessy Louis Vuitton SA (LVMH.PA) closed 141.25 euros on Thursday, up 1.01%, and has risen 6.8% since 2014. < /p >