LVMH : Activity clearly struggling, times are now difficult but we have not lost hope
>Q3 sales 4% below expectations with Fashion and Leather at -5% organic - With sales for the quarter coming in at € 19,076m (we had forecast € 20,056m, the FactSet consensus indicated € 19,886m), Q3 organic growth at group level was negative at -3% after +1% for the previous quarter, we had forecast +1.5% and the consensus was at +0.8%. At Fashion and Leather (F&L), the group's emblematic division, sales were down 5% cc after +1% in Q2, we had forecast flat sales (the...LVMH Moet Hennessy Louis Vuitton is a manufacturer and retailer of luxury goods. Co. offers champagne and wines, cognac and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelery; and is engaged in selective retailing. Its operations are organized along five business segments: Wine and Spirits, Fashion and Leather Goods, Perfumes and Cosmetics, Watches and Jewelery, and Selective Retailing. Co. is also engaged in other activities (Media with Les Echos group, La Samaritaine and Luxury yacht with Royal Van Lent). Some of Co.'s brands are Moet & Chandon, Dom Perignon, Louis Vuitton, Fendi, Donna Karan, Parfums Christian Dior, Guerlain, Parfums Givenchy, and TAG Heuer.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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