Louis Vuitton Owner's Sales Beat Expectations -- Update
January 25 2024 - 11:40AM
Dow Jones News
By Mauro Orru
LVMH Moet Hennessy Louis Vuitton posted sales above analysts'
forecasts for 2023, led by strong growth at its core fashion and
leather-goods division, and said it had entered the new year with
confidence.
The owner of the Louis Vuitton, Dior and Celine brands on
Thursday reported sales of 86.15 billion euros ($93.79 billion) for
2023, up 13% on an organic basis from the previous year.
LVMH's fashion and leather-goods division contributed EUR42.17
billion to total revenue, with sales up 14% organically.
Selective retailing, the unit that houses Sephora, posted a 25%
increase in revenue to EUR17.89 billion, while watches and jewelry
and perfumes and cosmetics fared less well, with sales up 7% and
11% respectively. Wines and spirits is the only business unit that
recorded lower sales, with a 4% contraction.
Net profit climbed to EUR15.17 billion from EUR14.08 billion in
2022, and the company said it would propose a dividend of EUR13 a
share at its shareholders' meeting on April 18, up from EUR12 a
share it paid the previous year.
Analysts had forecast annual sales of EUR85.74 billion and a
EUR15.68 billion profit, according to FactSet.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
January 25, 2024 12:25 ET (17:25 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
LVMH Moet Hennessy Louis... (PK) (USOTC:LVMUY)
Historical Stock Chart
From Nov 2024 to Dec 2024
LVMH Moet Hennessy Louis... (PK) (USOTC:LVMUY)
Historical Stock Chart
From Dec 2023 to Dec 2024
