China'S Stock Market Fell LVMH Sales In The Three Quarter Were Affected

According to Reuters, LVMH became the first luxury group to talk about the impact of the fall of the Chinese stock market in, saying its sales were greatly affected by the sharp fall in China's stock market, while its flagship brand LV was particularly affected.

LVMH said that the three quarter of the fashion and leather goods sector comparable.

From 10% in the previous three months to 3%.

The brand has contributed a lot to the Department in terms of sales and profits.

Guiony said that the three quarter LV sales growth and the overall situation of the Department "is not a big difference".

The group said that the growth rate of overseas spending on Chinese consumers is more pronounced than in China.

LVMH is the world's largest luxury group, with more than 70 luxury brands, including Louis Weedon, Bvlgari (Bulgari), Fendi (Fendi) and Celine.

"The sharp fall in China's stock market has had an impact, and we expect this impact will only last for a few months," said LVMH chief financial officer Jean-Jacques Guiony in the three quarter.

At the investor conference call.

"We see more Chinese tourists, but their expenditure has shrunk a little.

The growth rate is not as high as in the first half of the year.

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Latest news from London, Burberry released the latest report that Hongkong's performance is still falling, and Chinese consumer confidence is weak.

In the early morning trading, the company's share price plunged 12.2% to 12.46 pounds ($19.12).

In the first half of this year, retail sales increased by 3.5% to 774 million pounds (1 billion 190 million US dollars), which analysts said was "disappointing".

According to Citibank's Thomas Chauvet, according to the level of the financial crisis, the performance from July to September is the most negative since the third quarter of 2009, the worst in 6 years.

Excluding exchange rate effects, retail sales increased by 2%.

On the basis of the report, 0.5% of the total revenue, including wholesale and licensing operations, amounted to 1 billion 110 million pounds (about 1 billion 700 million US dollars).

Women's clothing sales were flat compared with the same period last year, while accessories sales increased by 2%.

Compared with Burberry's 8% revenue growth in the first three months of this fiscal year, a 2% increase indicates a marked slowdown in earnings growth in the second quarter.

Although analysts' expectations have been lowered, Burberry's performance is still lower than expected.

Christopher Bailey, chief executive officer and chief creative officer of Burberry, said the external environment has become more challenging in the second half of the year and has had an important impact on consumer demand in some key markets.

He pointed out that the company has already made strategies to focus on promoting sales and productivity and quickly taking measures to supplement free funds.

Bailey also said the company expects to harvest a more positive sales trend in the key half of the year.

We will maintain our attention and confidence in the long term business growth of all channels, regional and all product categories.

The company said it would further strengthen its online and offline product service innovation and redistribute the market budget during the holiday season.

At the same time, accelerate the cost control of all businesses.

The Asia Pacific region is a high profit market with a large number of Burberry stores, but its performance in the quarter is the worst. On the basis of the report, the turnover has dropped by 2%; on the basis of excluding the exchange rate, the turnover has dropped by 6%; on the basis of the report, the turnover in Europe, the Middle East and Africa has increased by 1%; on the basis of excluding the exchange rate effect, the turnover has increased by 8%; on the basis of the report, the turnover in the Americas region has increased by 6%; on the basis of excluding the exchange rate effect, the turnover is flat.

In terms of classification, women's clothing sales were flat, accessories increased by 2%, men's clothing sales were flat, but they fell by 1% on the basis of excluding exchange rates.

On the basis of the report, the turnover of children's clothing increased by 10%; on the basis of excluding the exchange rate, it increased by 8%; and the sales of cosmetics and cosmetics increased by 4%.