FRANCE. The world’s largest luxury goods company LVMH Moët Hennessy Louis Vuitton (LVMH) is set to report a +0.2% year-on-year increase in first quarter results, according to Dow Jones International.
The findings were based on a survey of six leading analysts, said Dow Jones. Organic growth is estimated at+8.1% with March showing an acceleration.
However, the continued negative effect of currency fluctuations (the weak US Dollar) will mean a -6.6% hit.
Analyst CIC sees +13% organic growth in LVMH’s core fashion and leathergoods sectors. The duty free division, DFS Group, will return organic growth of +6.5%, according to SocGen.
DFS has performed impressively this year, helped considerably by the strong Yen against the US Dollar, which has boosted sales in the company’s Japanese-orientated retail heartlands.
OTHER RECENT STORIES ON DFS GROUP
DFS remains on track as LVMH 2003 profits shine – 3 March 2003
DFS returns to growth in the fourth quarter – 22 January 2004
