Christian Dior: H1 earnings down 85%
(CercleFinance.com) - Christian Dior has reported an 85% fall in H1 2020 net income, group share to 202 million euros, with a 68% decline in underlying operating profit at 1,669 million euros, resulting in an operating margin from recurrent operations of 9%.
The luxury giant, the parent company of LVMH, posted sales of 18.4 billion euros, down 27% (-28% LFL), as the health crisis has led to a huge reduction in international travel and the closure of boutiques and sites.
While the impact of the epidemic on sales and annual results cannot be precisely assessed at this stage, the group believes that after a second quarter that was heavily affected by the crisis, it can hope that a recovery will gradually materialise in the second half of the year.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The luxury giant, the parent company of LVMH, posted sales of 18.4 billion euros, down 27% (-28% LFL), as the health crisis has led to a huge reduction in international travel and the closure of boutiques and sites.
While the impact of the epidemic on sales and annual results cannot be precisely assessed at this stage, the group believes that after a second quarter that was heavily affected by the crisis, it can hope that a recovery will gradually materialise in the second half of the year.
Copyright (c) 2020 CercleFinance.com. All rights reserved.