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LVMH MO╦T HENNESSY LOUIS VUITTON SE

(MC)
  Report
Real-time Euronext Paris  -  11:35 2022-09-30 am EDT
610.40 EUR   +0.39%
09/30Family of French billionaire Pinault strikes wine merger deal
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09/29LVMH : Receives a Buy rating from Goldman Sachs
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09/29France's LVMH Distributes Bonus To Workers Amid Inflation Crisis
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Ralph Lauren, Capri ride wave of inflation-resistant luxury demand

08/09/2022 | 08:40am EDT

Aug 9 (Reuters) - Ralph Lauren Corp and Michael Kors-owner Capri Holdings blew past earnings estimates, underscoring an unwavering demand for luxury apparel and handbags from wealthy consumers who remain largely unscathed by red-hot inflation.

Surging prices have had little impact on middle- and high-income households who have been happily splurging on designer labels, using what they saved during the pandemic when everything from foreign holidays to eating out came to a halt.

"High-income consumers are shopping in a way that is different from other times of inflation," Jane Hali & Associates analyst Jessica Ramirez said.

"Their priority is to shop for events they are returning to now after coming out of lockdowns and this is putting luxury goods companies in a good place."

Still, shares of both the companies fell about 3% in weak broader market as their sales in China still proved to be a sore spot due to recurring COVID-19 lockdowns.

Capri Chief Executive John Idol said he was "less optimistic" about the pace of the demand recovery in the key luxury goods market.

Meanwhile, European rivals LVMH and Gucci-owner Kering have also seen a strong increase in their sales, benefiting from some luxury spending shifting to Europe as U.S. tourists took advantage of a stronger dollar. BALLOONING INVENTORIES

Capri and Ralph Lauren recorded an increase of 66% and 47%, respectively, in inventories at the end of their first quarters, as the companies expedited seasonal product shipments to avoid last year's supply chain delays.

The higher spending on freight to get products to shelves faster caused gross profit margins at Capri and Ralph Lauren to decline, despite the companies increasing prices.

A STRONG GAME

Ralph Lauren's revenue rose 8.3% to $1.49 billion in the first quarter, while Capri's revenue rose 8.5% to $1.36 billion, both beating analysts' expectations.

Excluding items, Capri earned $1.50 per share, topping estimates of $1.36, while Ralph Lauren's profit of $1.88 per share beat expectations of $1.75, according to Refinitiv IBES data.

(Reporting by Uday Sampath and Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CAPRI HOLDINGS LIMITED -1.94% 38.44 Delayed Quote.-40.78%
KERING 0.77% 458.55 Real-time Quote.-35.13%
LVMH MOËT HENNESSY LOUIS VUITTON SE 0.39% 610.4 Real-time Quote.-16.04%
RALPH LAUREN CORPORATION -2.68% 84.93 Delayed Quote.-28.55%
All news about LVMH MO╦T HENNESSY LOUIS VUITTON SE
09/30Family of French billionaire Pinault strikes wine merger deal
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09/29LVMH : Receives a Buy rating from Goldman Sachs
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09/29France's LVMH Distributes Bonus To Workers Amid Inflation Crisis
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09/29French fashion giant LVMH announces bonus payment to help staff tackle inflation pressu..
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09/29Lvmh Moët Hennessy Louis Vuitton : Ě September 29, 2022 Bookings for the 5th edition of 's..
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09/29India's Reliance launches first in-house premium fashion store
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09/27Chinese snap up used Rolexes, Birkins to satisfy luxury cravings amid slowdown
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09/27Lvmh : Share Transactions Disclosure
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09/27LVMH : Bernstein maintains a Buy rating
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09/26MarketScreener's World Press Review : September 26, ..
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Analyst Recommendations on LVMH MO╦T HENNESSY LOUIS VUITTON SE
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Financials
Sales 2022 77 034 M 75 539 M 75 539 M
Net income 2022 14 185 M 13 910 M 13 910 M
Net Debt 2022 21 269 M 20 856 M 20 856 M
P/E ratio 2022 21,8x
Yield 2022 1,95%
Capitalization 306 B 301 B 301 B
EV / Sales 2022 4,25x
EV / Sales 2023 3,88x
Nbr of Employees 157 953
Free-Float 50,8%
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Technical analysis trends LVMH MO╦T HENNESSY LOUIS VUITTON SE
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 31
Last Close Price 610,40 €
Average target price 780,26 €
Spread / Average Target 27,8%
EPS Revisions
Managers and Directors
Bernard Arnault Chairman & Chief Executive Officer
Jean-Jacques Guiony Chief Financial Officer
Charles de Croisset Lead Independent Director
Yves-Thibault de Silguy Independent Director
Hubert VÚdrine Independent Director
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