⁍ LVMH said comparable sales in the second quarter had plunged by 38% due to the fallout from the coronavirus pandemic.
⁍ The group said its fashion and leather goods division had recorded a 37 % fall in like-for-like sales.
⁍ Overall, LVMH’s revenues came in at 7.8 billion euros ($9.2 billion) in the April to June period, down 38% on a like-for-like basis.
– Louis Vuitton and Christian Dior aren’t the only high-end brands suffering from the H1N1 virus. Fashion and leather goods maker LVMH, the world’s biggest luxury goods group, saw a 38% drop in comparable sales in the second quarter thanks to the outbreak of the virus, which forced the closure of factories and stores in China and Europe, Reuters reports. But the company says it has seen a recovery since June, with like-for-like sales down just 3%.
Source: https://www.reuters.com/article/lvmh-results/louis-vuitton-owners-sales-slide-in-q2-after-virus-hit-idUSL5N2EY4WQ