LVMH Moet Hennessy Louis Vuitton SE (ADR) (OTCMKTS:LVMUY) enjoyed a very quiet session yesterday as it closed at the end of the day with an almost negligible gain of 0.02%. The volume of the day at 97,000 was higher than the daily average of 56,000 but that didn’t make any impact on the price action of the day. The very sharp rally in the last few weeks is being digested by the traders but the result of the rejection at the resistance area around $38.50 is not clear yet. This congestion zone will be resolved in the next few days and that will determine the long term trend too.
LVMH Moet Hennessy Louis Vuitton SE (ADR)(OTCMKTS:LVMUY) topped revenue projections with its 3Q report. The organic revenue came at 7% compared to the estimates of 5.4%. This increase in organic revenue can be attributed to strong performance in Japan.
LVMH Moët, the leading luxury products company, recorded 18% jump in revenue, crossing €25 billion for the first three quarters of 2015. With increase in organic revenue growth, the trend continues to be comparable to the trend recorded in the first semester of the year. The company continues to deliver robust growth in the U.S. and Europe, and is witnessing acceleration in demand in Japan.
LVMH Moet reported that organic revenue of The Wines & Spirits business segment recorded growth of 7% in the first three quarter of FY2015 with a remarkable growth in the third quarter. Champagne volumes witnessed growth of 5% led by strong performance in its major markets. The volumes of Hennessy cognac jumped 12% after it witnessed a rebound in shipments to China and recorded noteworthy momentum in the U.S. Other spirits, Belvedere and Glenmorangie, continue to expand rapidly.
The Fashion & Leather Goods segment of LVMH Moet posted organic revenue growth of 5% in the first three quarters of FY2015. The company continued its growth and demonstrated strong creative momentum in its collections. Leather goods witnessed substantial success with the craftsmanship on leather and the creativity around Monogram.
The store evolution, the commencement of the house at Asnières supported the strong performance in the third quarter. Fendi recorded robust revenue growth following the remarkable performance of its range of products. Loro Piana worked on the qualitative advancement of its store network. Kenzo, Céline and Givenchy posted sustained revenue growth. Donna Karan and Marc Jacobs continued the repositioning of their products.