This article was originally published in The Rose Sheet
Christian Dior Higher and Kenzo Flower fueled Perfumes & Cosmetics sales for the year, but division operating income dropped 19% to $130.4 mil. (€1=$.88) largely due to a slowdown in the economy, luxury goods retailer says in 1March 7 release. Selective Retailing division, which includes Sephora and Duty Free Sales, recorded operating loss of $169.8 mil. from loss of $1.8 mil. in 2000. Loss in Selective Retailing contributed to lower consolidated earnings, LVMH says. Group generated net income of $8.8 mil. in 2001 compared to $639.9 mil. the prior year, remaining in the black due to a $756.2 mil. gain related to the sale of its Gucci shares...
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