LVMH’s six-month profit falls 22 percent, revenue falls 4 percent

The company’s website says after-tax profit fell 22 percent to 5.7 billion euros from 7.27 billion euros a year earlier. Profit from continuing operations fell 15 percent to 9 billion euros.

Revenue fell 4 percent to 39.81 billion euros from 41.68 billion euros. The organic decline in revenue, adjusted for currency fluctuations and corporate acquisitions, was 3 percent.

Revenue in LVMH’s fashion and leather goods segment fell 8 percent to 19.12 billion euros. Fashion and leather goods account for almost half of LVMH’s revenue.

Retail chain stores (Sephora, DFS and Le Bon Marché) had virtually no revenue, at €8.62 billion.

Revenue from perfumes and cosmetics fell 1 percent to €4.08 billion.

Alcoholic beverage sales fell 8 percent to €2.59 billion, while watches and jewelry sales fell 1 percent to €5.09 billion.