The regular cornerstone franchises of most American malls like Dillards (NYSE:DDS) or J.C. Penney (NYSE:JCP) may not be seeing great consumer interest, but the luxury side of retail seems to be making a solid comeback. This is why, with an update on third-quarter sales Thursday, it's pretty clear that French luxury giant LVMH (Nasdaq:LVMUY.PK) is once again doing well among the well-to-do.
Double Digits Across the Board
While LVMH only gave a partial update (sales, not profits), that update was nonetheless very positive. Total sales climbed nearly 24% as reported, with organic sales growth of 14%. That was a fair bit better than the already-healthy analyst expectation of 11% organic growth.
Please click below for the full story:
http://stocks.investopedia.com/stock-analysis/2010/No-Recession-In-High-End-Goods-LVMUY-COH-JWN-DEO-TIF-MOV-JCP1015.aspx
No comments:
Post a Comment