LVMH MO╦T HENNESSY LOUIS VUITTON SE

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Pandemic-fuelled lust for labels augurs well for LVMH

01/26/2022 | 06:26am EDT
FILE PHOTO: Customers walk past a store of French luxury brand Louis Vuitton inside a shopping mall in Beijing

PARIS (Reuters) - French luxury group LVMH is expected to post strong fourth quarter sales on Thursday, following a slate of solid earnings from rivals that showed steadfast demand for high-end fashion and accessories from pandemic-weary consumers.

The group's powerhouse labels Louis Vuitton and Dior are expected to drive a 16 percent rise in sales at constant exchange rates over the all-important holiday spending period, according to consensus estimates.

The group's fashion and leather goods division - which accounts for half of revenues - is set to extend its dominance of the sector, with an estimated market share of 21% compared to 16% before the pandemic, according to UBS forecasts.

The division's profit margin is seen at around 40%, one of the highest in the industry.

The world's largest luxury group has brands spanning Hennessy cognac to cosmetics retailer Sephora. It has strengthened its position during the pandemic in areas such as jewellery, with its purchase of Tiffany, whose importance for the overall group is expected to grow as LVMH invests in marketing to take on rivals like Richemont's Cartier.

The group's earnings release comes after others in the sector including Prada, Richemont, Burberry and Tod's, pointed to unabated appetite for high end goods through the end of last year.

The luxury industry bounced back strongly from the health crisis last year, even if international travel, a key growth driver in pre-pandemic times, has not fully resumed, with brands doubling up on efforts to reach consumers locally and through digital channels.

Sales over the last three months of the year at LVMH are expected to come in at around 18 billion euros, or 17% above their pre-pandemic level in 2019.

(Reporting by Mimosa Spencer, editing by Silvia Aloisi and Elaine Hardcastle)

By Mimosa Spencer


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BURBERRY GROUP PLC 1.80% 1670.5 Delayed Quote.-8.09%
CHRISTIAN DIOR SE 3.26% 569.5 Real-time Quote.-21.99%
COMPAGNIE FINANCIÈRE RICHEMONT SA 9.55% 103.85 Delayed Quote.-24.17%
LVMH MOËT HENNESSY LOUIS VUITTON SE 3.89% 593.4 Real-time Quote.-18.38%
PRADA S.P.A. 1.03% 44 Delayed Quote.-11.82%
STEADFAST GROUP LIMITED 1.60% 5.08 Delayed Quote.-3.24%
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Analyst Recommendations on LVMH MO╦T HENNESSY LOUIS VUITTON SE
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Financials
Sales 2022 74 451 M 79 764 M 79 764 M
Net income 2022 13 895 M 14 886 M 14 886 M
Net Debt 2022 4 358 M 4 669 M 4 669 M
P/E ratio 2022 21,9x
Yield 2022 1,93%
Capitalization 299 B 320 B 320 B
EV / Sales 2022 4,07x
EV / Sales 2023 3,64x
Nbr of Employees 157 953
Free-Float 51,8%
Chart LVMH MO╦T HENNESSY LOUIS VUITTON SE
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LVMH MoŰt Hennessy Louis Vuitton SE Technical Analysis Chart | MC | FR0000121014 | MarketScreener
Technical analysis trends LVMH MO╦T HENNESSY LOUIS VUITTON SE
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Mean consensus BUY
Number of Analysts 30
Last Close Price 593,40 €
Average target price 800,09 €
Spread / Average Target 34,8%
EPS Revisions
Managers and Directors
Bernard Arnault Chairman & Chief Executive Officer
Jean-Jacques Guiony Chief Financial Officer
Charles de Croisset Independent Director
Diego della Valle Independent Director
Yves-Thibault de Silguy Independent Director
Sector and Competitors
1st jan.Capi. (M$)
LVMH MOËT HENNESSY LOUIS VUITTON SE-18.38%320 098
LULULEMON ATHLETICA INC.-24.98%37 593
VF CORPORATION-31.47%19 486
LI NING COMPANY LIMITED-38.31%17 528
MONCLER S.P.A.-32.69%12 399
LEVI STRAUSS & CO.-26.33%7 311