LVMH: H1 2020 net income dives 84% to E522m
(CercleFinance.com) - LVMH's H1 2020 sales reached 18.
4 billion euros, down 27%. LFL sales are down 28% y-o-y.
In the second quarter, sales fell by 38% LFL y-o-y.
The Fashion and Leather Goods business group recorded a 24% LFL drop in sales in the first half of 2020 in an environment hit by the closure of stores in several regions of the world.
"China recorded a very strong recovery in revenue in the second quarter and there has been a gradual improvement since May in Europe and the United States," LVMH said.
Underlying operating income amounted to 1,671 million euros in H1 2020, showing an underlying operating margin of 9%. Net income group share came in at 522 million euros, down 84%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
4 billion euros, down 27%. LFL sales are down 28% y-o-y.
In the second quarter, sales fell by 38% LFL y-o-y.
The Fashion and Leather Goods business group recorded a 24% LFL drop in sales in the first half of 2020 in an environment hit by the closure of stores in several regions of the world.
"China recorded a very strong recovery in revenue in the second quarter and there has been a gradual improvement since May in Europe and the United States," LVMH said.
Underlying operating income amounted to 1,671 million euros in H1 2020, showing an underlying operating margin of 9%. Net income group share came in at 522 million euros, down 84%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.