LVMH revenue tumbles as Covid-19 erodes demand for luxury
LVMH follows Richemont and Burberry in reporting what analysts expect will be the industry’s worst quarter ever due to the pandemic
27 July 2020 - 22:39
Paris — LVMH’s customers are curbing purchases of high-end fashion faster than the company can cut costs, and that is hitting the Louis Vuitton owner’s profit.
The French luxury conglomerate’s profit from recurring operations totalled €1.67bn in the first half, less than the €2.32bn analysts expected...
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