Advertise with

 The group's stock price was also on track for its best daily performance since July 2016.
The group's stock price was also on track for its best daily performance since July 2016.

LVMH shares react well to positive comments in results


By Sudip Kar-Gupta - Jan 31st, 11:07

LVMH shares surged high after LVMH struck a “cautiously” confident tone for the year and said sales had picked up in China in the fourth quarter.

LVMH shares were up about 5% in early session trading, lifting up the shares of other rival luxury goods companies such as Kering, Hermes and Burberry.

The group's stock price was also on track for its best daily performance since July 2016.

LVMH's results also showed that growth had picked up at its Louis Vuitton megabrand.

“LVMH reported good full-year results and provided full year 2019 outlook comments that we believe will be well received by the market and should bode well for the sector,” wrote Deutsche Bank analysts, keeping a “hold” rating on LVMH shares.

LVMH, also home to fashion brand Givenchy and champagne label Moet & Chandon, reported revenues of €13.7bn in the October-December period.

For the full year, LVMH's operating income rose 21% to a record €10bn, while it also hiked its 2018 dividend to €6 per share from €5 in 2017.

LVMH's billionaire boss Bernard Arnault said that LVMH was confident about 2019, although LVMH could “not control” the global environment.

“Management is seeing no China slowdown with January strong with ever-optimistic Arnault expecting a crisis but not this year. Strong, for now at least,” wrote brokerage Jefferies, keeping a “buy” rating on LVMH shares.

Business Live 

Read more about: shares | retailer | retail | lvmh | fashion | brand

Related News

JIT is key to optimising the FMCG supply chain
23/07/2019 - 19:12
The ability to manufacture ‘just enough’ stock to cover orders and deliver ‘just enough’ product to every retailer is the optimal supply chain scenario in the Fast-Moving Consumer Goods (FMCG) industry. This is known as Just in Time (JIT) manufacturing and delivery.

Shoprite Group’s employees plant a sustainable garden for Bedfordview's elderly on Mandela Day
22/07/2019 - 08:49
On Mandela Day, the Checkers Gauteng Division along with Johannesburg mayor, Herman Mashaba, planted a food garden for the elderly people of De Wetshof Old Age Home in Bedfordview.

SAFW competitions offers entry into fashion industry
19/07/2019 - 08:41
It opened the door for David Tlale to showcase his designs at New York Fashion Work, Mmuso Maxwell to supply his garments to retail giant Woolworths and Clinton Lotter to take his work to the UK. Now, South African Fashion Week (SAFW) is once again looking to grow the fashion and creative industry by opening it to emerging designers.

US retail sales rise as households spend more
18/07/2019 - 14:16
US retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the hit on the economy from weak business investment.

Refinery celebrates diversity with new fashion campaign
18/07/2019 - 11:39
Local fashion retailer Refinery is set to make waves across the local industry with its new spring campaign which embraces diversity, encouraging others to be unashamedly, authentically themselves.