LVMH Expects Lower 1Q Revenue as Coronavirus Measures Hit

Data : 30/03/2020 @ 07:52
Fonte : Dow Jones News
Titolo : Lvmh Moet Hennessy Vuitton SE (MC)
Quotazione : 384.95  6.05 (1.60%) @ 03:01
Quotazione Lvmh Moet Hennessy Vuitton Grafico

LVMH Expects Lower 1Q Revenue as Coronavirus Measures Hit

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   By Pietro Lombardi 
 

LVMH Moet Hennessy Louis Vuitton SE said late Friday that it expects revenue to fall between 10% and 20% on year in the first quarter, hit by measures taken by authorities around the world to fight the coronavirus pandemic.

"In the short term, the measures taken by public authorities to combat the Covid-19 pandemic have resulted in the closure of production sites and stores in several countries which will have an impact on the group's results," the French conglomerate said.

"This impact cannot be accurately calculated at this time without knowing the timing of a return to normal in these countries."

LVMH will publish its first-quarter revenue on April 16.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

March 30, 2020 01:37 ET (05:37 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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