Finance In Brief
This article was originally published in The Rose Sheet
Executive Summary
LVMH: Company's perfumes and cosmetics business grew 9% on a reported basis during the first three quarters of FY 2007 to $2.79 bil., according to Oct. 15 earnings release from Moet Hennessy Louis Vuitton. The division's performance was particularly strong in Europe and Asia owing to a strong launch of the Christian Dior scent Midnight Poison and solid results from other new fragrances including TokyobyKenzo, Palazzo, a new release from Fendi and the Pucci scent Vivara. The "rapid progress" of cosmetics brand Benefit also contributed, LVMH says. The firm's selective retailing unit booked $4.1 bil. for the period, with Sephora continuing "to win market share in Europe and in the U.S. and to expand its business in the Middle East and China." Overall, LVMH achieved sales of $16.2 bil. for the first three quarters of FY 2007...
LVMH: Company's perfumes and cosmetics business grew 9% on a reported basis during the first three quarters of FY 2007 to $2.79 bil., according to Oct. 15 earnings release from Moet Hennessy Louis Vuitton. The division's performance was particularly strong in Europe and Asia owing to a strong launch of the Christian Dior scent Midnight Poison and solid results from other new fragrances including TokyobyKenzo , Palazzo , a new release from Fendi and the Pucci scent Vivara . The "rapid progress" of cosmetics brand Benefit also contributed, LVMH says. The firm's selective retailing unit booked $4.1 bil. for the period, with Sephora continuing "to win market share in Europe and in the U.S. and to expand its business in the Middle East and China." Overall, LVMH achieved sales of $16.2 bil. for the first three quarters of FY 2007.... Givaudan: Fragrance firm records sales of $2.63 bil. in local currencies for the first nine months of FY 2007, surging 40.6% from prior-year period; results reflect the company's $2.3 bil. acquisition of Quest International, completed in March, Givaudan reports Oct. 8. Sales in actual terms for Givaudan's fragrance division from January through September were $1.21 bil. Fine fragrance sales in Europe "remain strong, reflecting steady growth of the existing business and supported by numerous recent launches," the company notes. Givaudan enjoyed a "good performance" in Latin America, though sales "remain slow" in North America, reflecting lower sales to a key client in the region. The rest of the North American portfolio, however, shows strong growth, firm says.... Helen of Troy: Despite strong sales for the second quarter - up 7.3% to $157.9 mil. - Helen of Troy is projecting full-year sales of $660 mil. to $680 mil. versus previously forecasted $680 mil. to $690 mil. due to "extremely challenging" retail environment, CEO and President Gerald J. Rubin notes in Oct. 10 statement. The firm predicts that lower consumer spending for the holiday period will contribute to dreary sales climate. "Going forward we plan to continue to execute our business plan by introducing new product offerings, increasing market share through channel expansion and product innovation, and continuing our efforts of increasing process efficiencies and reducing related expenses," Rubin concludes.... |