After a strong second quarter, the world's leading luxury group is cautiously bullish about overcoming the challenges ahead.
, Tiffany & Co. and Sephora is feeling positively bullish, though shouting it from the rooftops might come across as unseemly in the current climate.
Total revenues in the three months to June 30 totaled 18.73 billion euros, exceeding a FactSet consensus estimate of 17.42 billion euros. “We see no tangible signs of slowing down,” Guiony said. Market share is growing, with the U.S. accounting for 27 percent of LVMH’s total revenues in the first half of 2022, up from 25 percent in the same period last year.
Stripping out the impact of currency fluctuations, overall revenues at LVMH were up 19 percent year-over-year in the second quarter, indicating a slowdown from the first quarter, when organic revenues increased 23 percent. Revenues in Europe were up 48 percent, versus 45 percent in the prior quarter.
The division’s operating margin grew to 41.4 percent in the first half, versus 40.8 percent in the same period last year, according to Chris Hollis, head of financial communications at LVMH.
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