LVMH Expects Lower 1Q Revenue as Coronavirus Measures Hit
March 30 2020 - 1:52AM
Dow Jones News
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)
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