LVMH Profit Was Flat in First Half
July 26 2016 - 01:10PM
Dow Jones News
MILAN—LVMH Moë t Hennessy Louis Vuitton said Tuesday its
first-half net profit was flat compared with a year earlier,
dragged down by the fashion and leather goods division.
The company, a bellwether for the luxury-goods industry, said
its net profit stood at €2.96 billion ($3.25 billion), while
revenue was up 3%, at €17.2 billion revenue.
LVMH, which owns such brands like as Louis Vuitton, Celine and
Moë t and Chandon, reported a 17% profit increase in its wines and
spirits division, while profit for fashion and leather goods fell
2%.
Fashion and leather goods was also the only division posting a
fall in terms of revenue.
Write to Manuela Mesco at manuela.mesco@wsj.com
(END) Dow Jones Newswires
July 26, 2016 12:55 ET (16:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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