. Earth Science News .
TRADE WARS
LVMH reports rebound in China luxury sales
by Staff Writers
Paris (AFP) July 27, 2020

LVMH, the world's biggest luxury group, on Monday reported signs of a recovery in its businesses after a sharp downturn due to the coronavirus, including a strong rebound in key market China.

Sales for the French conglomerate fell 38 percent overall in the second quarter of the year while net profit for the six months to June came in a staggering 84 percent lower as a result of the closure of many stores and manufacturing sites.

But the group still "showed exceptional resilience to the serious health crisis the world experienced in the first half of 2020", CEO Bernard Arnault said in a statement.

While there had been "encouraging signs" of recovery during the month of June, in the second quarter as a whole revenue was down notably in Europe and the US, he said.

"Asia, however, has seen a marked improvement in trends, with a strong rebound in China in particular," Arnault said.

He said LVMH was "in an excellent position to take advantage of the recovery, which we hope will be confirmed in the second half of the year".

LVMH's dozens of brands include Kenzo and Marc Jacobs fashion, Guerlain perfume and Tag Heuer watches.

In a deal worth $16.2 billion at the end of last year, the French luxury giant agreed to buy legendary US brand Tiffany in the industry's biggest takeover ever.

kd/jh/dl

LVMH - MOET HENNESSY LOUIS VUITTON


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
Consulate closure latest salvo in US-China tussle
Washington (AFP) July 22, 2020
The closure of the Chinese consulate in Houston is the latest salvo in a battle between the United States and China for economic and technological supremacy that is shaping up as a new Cold War and includes a high-stakes race for a COVID-19 vaccine. - The latest developments - The United States ordered the closure of the Chinese consulate in the Texas city of Houston on Wednesday, citing Chinese theft of intellectual property. The move came a day after the Justice Department unveiled the ind ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Snapchat grudges, COVID-19 pressures drive US shooting epidemic

Myanmar army sacks officers over landslide tragedy

Iran says damage at nuclear site 'significant'

More than 160 dead in Myanmar jade mine landslide

TRADE WARS
AFRL and Compass Technology Group collaborate on specialty material techniques

World leading experts to spearhead $20m of space sector by SmartSat CRC

NASA's Next Laser Communications Demo Installed, Integrated on Spacecraft

Parts come together this year for DARPA's robotic in-space mechanic

TRADE WARS
New insight into the origin of water on the earth

AU leaders to discuss Nile dam on July 21

China blows up dam in eastern province to ease flood risk

Ethiopia says rising waters at mega-dam a 'natural' part of construction

TRADE WARS
Air Force releases Arctic defense strategy

Climate change on track to wipe out polar bears by 2100

First comprehensive documentation of glacial retreat in the Alps

Arctic Ocean changes driven by sub-Arctic seas

TRADE WARS
Bayer loses appeal in California Roundup cancer verdict

Brazil exports to EU produced on illegally cleared land: report

G20 carbon 'food-print' highest in meat-loving nations: report

Burger King unveils Whopper from cows on green diet

TRADE WARS
Bangladesh faces further flood crisis in monsoon-hit South Asia

Bangladesh, Nepal warn of rising rivers as monsoon toll rises

Indonesian rescuers hunt for dozens missing after floods kill 36

Yangtze floods force millions from their homes in central China

TRADE WARS
Zambia seeks Chinese debt relief for virus-hit economy

'Bandits' kill 23 Nigerian troops in northwest: security sources

Sudan army to prosecute over 'insults'

IMF predicts Zambia economy to shrink by 5% due to virus, drought

TRADE WARS
Study reveals differences between nobles, commoners in Middle Ages

Racism in the UK: the effects of a 'hostile environment'

Early peoples in Pacific Northwest were smoking smooth sumac

In the wild, chimpanzees are more motivated to cooperate than bonobos









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.