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CDI - Christian Dior SE News Story

€624 2.5  0.4%

Last Trade - 14/05/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £96.95bn
Enterprise Value £142.34bn
Revenue £38.46bn
Position in Universe 8th / 850

BUZZ-LVMH: Jumps on better-than-feared Q1 sales

Fri 17th April, 2020 8:16am
** Shares in LVMH  LVMH.PA , the world's biggest fashion
group, jump around 5% as it posts a smaller-than-expected Q1
decline in its key Fashion & Leather Goods (F&LG) division, with
encouraging China trends
    ** Sales in F&LG, home to the Christian Dior  DIOR.PA  and
Louis Vuitton brands, fall 10% organically to EUR 4.64 bln 
($5.04 bln), while total Q1 sales decline 17% to EUR 10.60 bln
    ** Analysts agree the F&LG result is a positive surprise,
with early recovery signs seen China from mid-March and stronger
positive trends for key brands April-to-date
    ** Jefferies sees "some light in the darkness", adding the
10% decline is "quite a feat" with Q1 generally "being not as
bad as it could have been"
    ** JPMorgan says the "F&LG performance (high margin) will
get the most attention", despite being offset by a
worse-than-expected performance of all other divisions at LVMH
    ** Bryan Garnier reiterates its "buy" rating, citing very
encouraging figures from China that imply no change in consumer
behaviour
    ** LVMH's stock is among the biggest gainers on the French
CAC 40 index  .FCHI 


($1 = 0.9212 euros)

 (piotr.lipinski@tr.com)
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