Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

LVMH MO╦T HENNESSY LOUIS VUITTON SE

(MC)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

LVMH MoŰt Hennessy Louis Vuitton : Asia curbs sales growth at Kering's fashion brand Gucci

10/19/2021 | 11:57am EST

PARIS, Oct 19 (Reuters) - French luxury group Kering's star fashion brand Gucci grew sales by just 3.8% in the third quarter, missing analyst expectations as the pace of recovery from COVID-19 slowed down sharply, particularly in Asia, following a bumper second quarter.

Luxury goods groups have bounced back strongly from the fallout of the health emergency, lifted by pent-up demand for high-end wares as lockdowns ease across the world and consumers return to socializing.

However, shopping by traveling tourists - a key source of revenue for the sector - remains well below pre-pandemic levels.

Overall sales at Kering rose by 12.2% on a comparable basis, which strips out the effect of acquisitions and currency fluctuations, a touch above an analyst consensus forecast for an 11% increase.

The group flagged a strong performance in the United States and improving sales in western Europe but a resurgence of COVID-19 cases in late July and August weighed on revenue in the key Asia-Pacific region, where Gucci sales were down 3%.

The label, which accounts for more than half of annual sales, has been losing steam compared to some rivals after years of stellar growth, becoming the main focus for investors.

Analysts had expected revenue at Gucci to rise by 9% in the three months to end-September after an 86% surge in the previous quarter. By comparison, LVMH's fashion and leather goods division, home to Louis Vuitton and Dior, posted a 24% increase in third-quarter sales.

Kering's finance chief, Jean-Marc Duplaix, told reporters the group expected Gucci's growth to accelerate in the fourth quarter after its new Aria collection, which includes a broader array of products than previous collections, hit stores in late September.

"We expect a very intense end of the year," he said, noting the collection had been well received in markets around the world.

He added the group was looking to support the brand with investments in events, communication, stores and recruitment, efforts that would hit the brand's margin growth in the second half.

Sales of smaller fashion labels Yves Saint Laurent and Bottega Veneta grew briskly over the quarter, led by double-digit growth in North America and Europe, while their performances were also more muted in the Asia-Pacific region.

Asia has been a key growth driver for the luxury sector, in particular China which is being closely watched by luxury investors concerned that government measures aimed at reducing the wealth gap and slower economic growth could dampen appetite for high-end goods.

(Reporting by Mimosa Spencer, editing by Silvia Aloisi and Emelia Sithole-Matarise)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
KERING -2.38% 688.2 Real-time Quote.18.62%
LVMH MOËT HENNESSY LOUIS VUITTON SE -1.65% 686 Real-time Quote.36.52%
All news about LVMH MO╦T HENNESSY LOUIS VUITTON SE
05:21aLVMH MOËT HENNESSY LOUIS VUITTON : Fashion & Leather Goods Ě December 2, 2021 Virgil was h..
PU
12/01Breuninger presents "Shop the Gift - Fine Jewellery"
AQ
11/30Exxon to offer spending outlook as investors seek clues to low-carbon returns
RE
11/30LVMH : Barclays keeps its Buy rating
MD
11/30NORTH AMERICAN MORNING BRIEFING : -3-
DJ
11/30LVMH MOËT HENNESSY LOUIS VUITTON SE : Ex-dividend day for interim dividend
FA
11/29Hennessy announces Literary Awards Winners
AQ
11/29MarketScreener's World Press Review - November 29, 2021
11/29LVMH MOËT HENNESSY LOUIS VUITTON : 2021 Interim dividend
PU
11/29LVMH : 2021 Interim dividend
AQ
More news
Analyst Recommendations on LVMH MO╦T HENNESSY LOUIS VUITTON SE
More recommendations
Financials
Sales 2021 62 088 M 70 439 M 70 439 M
Net income 2021 10 634 M 12 064 M 12 064 M
Net Debt 2021 12 379 M 14 043 M 14 043 M
P/E ratio 2021 33,1x
Yield 2021 1,16%
Capitalization 351 B 398 B 399 B
EV / Sales 2021 5,86x
EV / Sales 2022 5,19x
Nbr of Employees 148 343
Free-Float 52,3%
Chart LVMH MO╦T HENNESSY LOUIS VUITTON SE
Duration : Period :
LVMH MoŰt Hennessy Louis Vuitton SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LVMH MO╦T HENNESSY LOUIS VUITTON SE
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Last Close Price 697,50 €
Average target price 760,66 €
Spread / Average Target 9,05%
EPS Revisions
Managers and Directors
Bernard Arnault Chairman & Chief Executive Officer
Jean-Jacques Guiony Chief Financial Officer
Charles de Croisset Independent Director
Diego della Valle Independent Director
Yves-Thibault de Silguy Independent Director
Sector and Competitors
1st jan.Capi. (M$)
LVMH MOËT HENNESSY LOUIS VUITTON SE36.52%397 950
LULULEMON ATHLETICA INC.28.85%58 212
LI NING COMPANY LIMITED65.48%29 564
V.F. CORPORATION-17.07%27 821
MONCLER S.P.A.30.87%20 034
UNDER ARMOUR, INC.33.31%10 051