LVMH : Persistent question marks beyond what was simply a bad Q1
>Our forecasts for Q1 sales are fairly conservative but we already know that Q2 is likely to be much worse - LVMH had already indicated a few weeks ago that it was expecting a sales decline of between -10% and -20% for Q1. Our own forecasts are at the lower end of this range at -17% reported, i.e. close to -20% in organic terms (-15% org. for fashion and leather, see tables on page 2 for detailed forecasts). Although it is possible that a still-positive situation out...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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