LVMH announces a turnover in nine months, down 6%, in line with analysts’ expectations, with a decline, however, limited to 3% in the third quarter on an organic basis, while a decrease of 6% was expected.
The world of luxury has seen its sales total $ 11.959 million euros over nine months, little changed as reported and down 6% excluding currency fluctuations, in line with the consensus reached by the editor of Reuters (11.921 million euros).
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In the third quarter alone, they reached 4.135 million (4130 million Reuters consensus) but have limited their decline to 3% on an organic basis, following declines of 7% in the first and second quarters, and while analysts were anticipating a decline 6%.
LVMH said this development through continued stocking distributors and believes that the third quarter marks a “trend of improvement relative to the start of the year.
The group, which does not provide forecasts for the whole financial year, says that in a “still marked by the crisis in many parts of the world”, it will continue its strategy to “further strengthen its lead in the market World of Luxury. “
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Tags: Luxury, LVMH, market World of Luxury, Q3