(ANSA) - MILAN, OCT 24 - Quarterly above expectations for LVMH and Moncler, good Kering and L'Oreal flies.
Although the sign remains less than the performance of the previous year, the large international groups clearly show the recovery of the sector after the spring months penalized by the lockdown due to the coronavirus pandemic.
The French group LVMH recorded a turnover of 30.3 billion euros in the first nine months of 2020 (-21% on an organic basis), but the third quarter was above all the best expectations of analysts: revenues fell by 7% under organic basis, reflecting a marked improvement, in particular a return to growth in Cognac and Fashion & Leather Goods. Moncler closed the first nine months of 2020 with consolidated revenues at 765.1 million (-23%, at constant exchange rates -22%), but the loss was decidedly lower in the third quarter, in which turnover was 361.8 million (-15, constant changes -14%). Kering, which boasts brands including Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron and Pomellato, recorded consolidated revenues of 3,717 million in the quarter, a decrease of 4.3% (-1.2% on a comparable perimeter). L'Oreal returned to growth in sales (+ 1.6%) and closed its accounts as at 30 September at € 20.11 billion (-7.4% and -6.9% at constant exchange rates). In the third quarter, growth was 15.2% in the activecosmetics division and e-commerce accounted for 23.7% of sales, making a + 61.6%. (HANDLE).