LVMH: sales down 21% in first 9 months
(CercleFinance.com) - LVMH have made sales of 30.
3 billion euros over the first nine months of 2020, a decline of 21%. At constant exchange rates and scope, sales were down 21% compared to the same period in 2019.
“Revenue was down 7% in the third quarter on an organic basis, reflecting a marked improvement in trends compared to the first half, notably a return to growth in Cognac and Fashion & Leather Goods” indicates the group.
The Fashion & Leather Goods business saw a decrease of 11% at constant exchange rates and scope over the first nine months of 2020. The third quarter marks a sizable upturn in business, with organic revenue growth in double-digit figures.
In terms of Wines & Spirits, sales were down 15% at constant exchange rates and scope over the first nine months of 2020 and 3% for the third quarter.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
3 billion euros over the first nine months of 2020, a decline of 21%. At constant exchange rates and scope, sales were down 21% compared to the same period in 2019.
“Revenue was down 7% in the third quarter on an organic basis, reflecting a marked improvement in trends compared to the first half, notably a return to growth in Cognac and Fashion & Leather Goods” indicates the group.
The Fashion & Leather Goods business saw a decrease of 11% at constant exchange rates and scope over the first nine months of 2020. The third quarter marks a sizable upturn in business, with organic revenue growth in double-digit figures.
In terms of Wines & Spirits, sales were down 15% at constant exchange rates and scope over the first nine months of 2020 and 3% for the third quarter.
Copyright (c) 2020 CercleFinance.com. All rights reserved.