LVMH : More challenging sector environment, estimates lowered but the share is now moderately valued
>We adopt a more cautious scenario on Fashion & Leather: H2 2024 expected to show growth of +1% with a fall in the margin to 37.5% and 2025 growth of 4% - Consumer spending trends in China increasingly strongly suggest that Q3 has seen a persistent deterioration in luxury goods sales and it is very unlikely at this stage that demand will improve significantly in Q4. This now leads us to expect even sharper declines in sales in the Asia-Pacific region in Q3 and Q4 f...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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