LVMH Sets Negative Tone for Spirits Companies -- Market Talk

Dow Jones04-23

1510 GMT - European drinks makers could face a cloudy earnings season, as consumer sentiment remains weak, UBS analysts write in a research note. After positive trends during the pandemic, the sector is grappling with more normalized growth trends, with high inventories in the U.S. and subdued demand in China. LVMH Moet Hennessy Louis Vuitton kicked off the reporting season, showing an organic revenue decline by 12% for its Wines and Spirits division. LVMH's result was hit by soft demand during the Chinese New Year, which sets a negative tone for the spirits industry, they say. "We expect companies to destock following a weak [Chinese New Year]." Pernod Ricard will post third-quarter figures on Thursday, while Remy Cointreau should report full-year figures for fiscal 2024 on Friday. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 23, 2024 11:10 ET (15:10 GMT)

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LVMH's result was hit by soft demand during the Chinese New Year, which sets a negative tone for the spirits industry, they say. \"We expect companies to destock following a weak [Chinese New Year].\" Pernod Ricard will post third-quarter figures on Thursday, while Remy Cointreau should report full-year figures for fiscal 2024 on Friday. 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After positive trends during the pandemic, the sector ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4202","symbol_name":"服装、服饰与奢侈品","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429119461","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429119461","pubTimestamp":1713885000,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1510 GMT - European drinks makers could face a cloudy earnings season, as consumer sentiment remains weak, UBS analysts write in a research note. 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