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    RMS   FR0000052292


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LVMH shares edge higher as sales and profits rise

07/27/2021 | 03:24am EDT
FILE PHOTO: FILE PHOTO: Louis Vuitton logo outside a store in Paris

PARIS (Reuters) - LVMH's shares eged higher on Tuesday after the world's biggest luxury goods group posted higher sales and profits, driven by surging sales of fashion lines and handbags by Dior, Fendi and Louis Vuitton.

LVMH shares were up 0.3% in early session trading.

"We are encouraged by Louis Vuitton and Dior's exceptional brand positioning across regions and sustained local luxury consumer demand," wrote brokerage Cowen & Company, which kept an 'outperform' rating on LVMH shares.

The luxury goods industry is recovering from the COVID-19 crisis, which shut down global travel and temporarily closed stores, and LVMH has benefited more than most, using its heft to spend on marketing and social media campaigns when some of its smaller rivals are still struggling to get back on their feet.

Overall sales at LVMH, which also owns champagne and cosmetics labels, rose by 84% year-on-year in the second quarter on a like-for-like basis, which strips out currency swings, and stood at 14.7 billion euros ($17.33 billion).

Operating profit in the first six months of this year more than quadrupled compared with a year ago, beating expectations among analysts polled by Refinitiv.

"We think much of this will be repeated in H2 in the absence of a sector momentum shift: as long as the sector performs, LVMH will perform better," wrote brokerage Jefferies, which kept a 'buy' rating on LVMH shares.

($1 = 0.8480 euros)

(Reporting by Silvia Aloisi, Mimosa Spencer and Sarah White; Editing by Sudip Kar-Gupta)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HERMÈS INTERNATIONAL 1.79% 1280.5 Real-time Quote.43.25%
KERING 2.23% 635.8 Real-time Quote.4.73%
LVMH MOËT HENNESSY LOUIS VUITTON SE 0.84% 632.7 Real-time Quote.22.92%
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Analyst Recommendations on HERMÈS INTERNATIONAL
More recommendations
Sales 2021 8 655 M 10 191 M 10 191 M
Net income 2021 2 254 M 2 654 M 2 654 M
Net cash 2021 5 479 M 6 451 M 6 451 M
P/E ratio 2021 58,5x
Yield 2021 0,52%
Capitalization 132 B 155 B 155 B
EV / Sales 2021 14,6x
EV / Sales 2022 12,9x
Nbr of Employees 16 966
Free-Float 32,3%
Duration : Period :
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Technical analysis trends HERMÈS INTERNATIONAL
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 17
Last Close Price 1 260,00 €
Average target price 1 172,47 €
Spread / Average Target -6,95%
EPS Revisions
Managers and Directors
Axel Dumas Co-Executive Chairman-Management Board
Henri-Louis Bauer Co-Executive Chairman-Management Board
Éric Marie Joseph du Halgouët Executive Vice President-Finance
Éric de Seynes Chairman-Supervisory Board
Nathalie Besombes Secretary & Compliance Officer
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