Edition:
India

LVMH Posts Q3 Sales Down At EUR 11.96 Bln, Says Will Continue Strengthen Its Cost Controls


Thursday, 15 Oct 2020 

Oct 15 (Reuters) - LVMH SE ::DECISION TO PAY AN INTERIM DIVIDEND WILL BE DISCUSSED BY THE BOARD OF DIRECTORS BEFORE THE END OF THE MONTH AND ANNOUNCED THEREAFTER.OUTLOOK: TO ‍​CONTINUE TO EXERCISE CAUTION, STRENGTHEN ITS COST CONTROLS AND SELECTIVITY IN ITS INVESTMENTS.​ON TIFFANY: TO DATE, NINE OF THE TEN REQUIRED REGULATORY AUTHORISATIONS HAVE ALREADY BEEN OBTAINED.SAYS Q3 SALES STOOD AT 11.955 BILLION EUR, DOWN 7 PERCENT YEAR-ON-YEAR ON A LIKE-FOR-LIKE BASIS.SALES IN THE FASHION AND LEATHER GOODS DIVISION WERE UP 12 PERCENT Y/Y IN Q3 ON A LIKE-FOR-LIKE BASIS.Q3 WINE AND SPIRITS SALES DOWN 3% LIKE-FOR-LIKE, PERFUME AND COSMETICS SALES DOWN 16%.TIFFANY: EXPECTS TO RECEIVE APPROVAL FROM THE EUROPEAN COMMISSION BY THE END OF OCTOBER.Q3 WATCHES SALES DOWN 14% LIKE-FOR-LIKE, SALES IN RETAILING DIVISION DOWN 29%.