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Relief for LVMH as DFS breaks evenRelief for LVMH as DFS breaks even
7-Mar-2003
Moet Hennessy-Louis Vuitton (LVMH) has declared 2002 an "excellent" year, with net income from current group operations more than double the previous year's total at ?818m ($880m)
The group's selective retailing division, comprising DFS Group and perfumery chain Sephora, posted operating income of ?20m ($21.5m), compared with a deficit of ?213m ($229m) last year.Bookmark This Article
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(1-Mar-2003) - By Dermot DavittINTERNATIONAL. DFS Group broke even in 2002 as the company cut costs, restructured its product lines and renegotiated concessions, according to parent company LVMH Moët Hennessy-Louis Vuitton in results announced on March 6. Arnault said he would wait until profits improved further before deciding on a sale.
(2-Oct-2003) - The negative effect of SARS on travel and spending patterns in crucial Asian markets has taken its toll on LVMH Moët Hennessy-Louis Vuitton?s leathergoods brands in the first half of 2003.
(1-Jan-2002) - INTERNATIONAL. Moët Hennessy-Louis Vuitton (LVMH) has announced its sales figures for 2001, confirming a troubled year for travel-retail arm DFS Group, recently described as non-core by LVMH chairman Bernard Arnault. The results also featured a fresh warning on profitability, although it said 2002 could feature a rebound in performance.
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