Tag #Luxury Sector

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dailymail.co.uk

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Apr 16, 04:09

Hermes Overtakes LVMH as World's Top Luxury Goods Firm

Hermes has overtaken LVMH as the world's largest luxury goods company after LVMH reported a 3 percent fall in sales to £17.5 billion in the first quarter of 2024, while Hermes' market value reached £215 billion compared to LVMH's £209 billion.

Hermes Overtakes LVMH as World's Top Luxury Goods Firm

Hermes has overtaken LVMH as the world's largest luxury goods company after LVMH reported a 3 percent fall in sales to £17.5 billion in the first quarter of 2024, while Hermes' market value reached £215 billion compared to LVMH's £209 billion.

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What factors contributed to Hermes overtaking LVMH as the world's largest luxury goods company?

Hermes, renowned for its silk scarves and Birkin handbags, surpassed LVMH to become the world's largest luxury goods company. This follows a 3 percent sales drop for LVMH in the first quarter of 2024, impacting its share price and market value. Hermes's market capitalization now exceeds LVMH's by several billion.

tr.euronews.com

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Jan 29, 16:12

LVMH Q4 2024 Results: Revenue Up, Profit Down Amidst Uneven Luxury Market Recovery

LVMH reported a 1% increase in Q4 2024 total revenue to €23.93 billion, exceeding expectations but reflecting an uneven luxury goods market recovery with strong US sales contrasting weaker Asian demand. Full-year organic sales rose 1%, while recurring operating profit decreased 14%.

LVMH Q4 2024 Results: Revenue Up, Profit Down Amidst Uneven Luxury Market Recovery

LVMH reported a 1% increase in Q4 2024 total revenue to €23.93 billion, exceeding expectations but reflecting an uneven luxury goods market recovery with strong US sales contrasting weaker Asian demand. Full-year organic sales rose 1%, while recurring operating profit decreased 14%.

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What were LVMH's Q4 2024 financial results, and what are the key factors driving their performance and overall global implications?

LVMH, the world's largest luxury goods retailer, reported a 1% increase in total revenue to €23.93 billion in Q4 2024, a 25% surge compared to the previous quarter but a yearly decrease. Full-year organic sales revenue grew by 1% to €84.68 billion, exceeding analyst expectations of a 2% decline. However, recurring operating profit fell by 14% year-on-year despite a 5% reduction in marketing expenses.

edition.cnn.com

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Apr 16, 07:14

Hermès Overtakes LVMH as Europe's Top Luxury Company

Due to disappointing first-quarter results, particularly weak US and Chinese sales, LVMH lost its position as Europe's largest luxury company to Hermès on Tuesday, with LVMH's market capitalization falling to €246 billion versus Hermès' €247 billion.

Hermès Overtakes LVMH as Europe's Top Luxury Company

Due to disappointing first-quarter results, particularly weak US and Chinese sales, LVMH lost its position as Europe's largest luxury company to Hermès on Tuesday, with LVMH's market capitalization falling to €246 billion versus Hermès' €247 billion.

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What factors contributed to Hermès overtaking LVMH as Europe's leading luxury company by market capitalization?

On Tuesday, Hermès surpassed LVMH as Europe's largest luxury company by market capitalization, due to LVMH's disappointing first-quarter revenue. LVMH's sales missed expectations, particularly in the US and China, leading to a 7% share drop and €246 billion market cap compared to Hermès' €247 billion.

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