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French Fashion Giant LVMH Records 3% Organic Revenue Growth In Q1: Details

Benzinga · Apr 17 07:40

LVMHF -1.48% LVMUY -1.69%

French luxury fashion house LVMH-Moet Hennessy Louis Vuitton (OTC:LVMHF) (OTC:LVMUY) reported a 2% decline in first-quarter FY24 revenue to €20.7 billion. Organic revenue growth was 3%.

The Wines & Spirits business group saw a revenue decline of 16% (down 12% organic) in the first quarter of 2024.

The Fashion & Leather Goods business group achieved organic revenue growth of 2%, and the Perfumes & Cosmetics business group recorded a 7% organic growth.

Selective Retailing organic revenue growth was 11%, with Sephora gaining market share. Growth in North America, Europe and the Middle East remained strong.

Europe and the U.S. achieved growth on a constant currency and consolidation scope basis in the quarter.

Japan recorded double-digit revenue growth. Rest of Asia reflected the strong growth in spending by Chinese customers in Europe and Japan.

Price Action: LVMHF shares closed higher by 1.58% at $855.05 on Tuesday.

Photo via Shutterstock

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.，Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc., and Moomoo Securities Malaysia Sdn. Bhd. are affiliated companies.

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