LVMH Moet Hennessey Louis Vuitton (LVMH)
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LVMH Moet Hennessey Louis Vuitton (LVMH) is an international group of companies primarily engaged in the production and sale of luxury goods ranging from prestigious wines, champagnes, cognacs, and spirits to luggage and leather goods, cosmetic and fragrance products, watches and jewelry (Yahoo Finance). LVMH is also engaged in the haute couture and fashion business. LVMH consists of five principal business groups: Wines and Spirits; Fashion and Leather Goods; Perfumes and Cosmetics; Watches and Jewelry; and Selective Retailing. The company also has interests in financial media companies and in auction art sales. An important part of LVMH's production is carried out in France, but its products are sold through subsidiaries worldwide in five major geographical zones: France, Europe, the United States, Japan, and the Far East. For the six months ended June 30, 2003, net sales for LVMH decreased to Eur5.24 billion (Reuters). The net income before US GAAP adjustment increased 24 percent to EUR265 million. Revenues were down due to difficult market conditions following the SARS epidemic. However, net income benefitted from lowered operating expenses. Stock of LVMH trades on the New York Stock Exchange (NYSE) with the sticker symbol LVMUY.PK, and closed on May 28, 2004 at a price of $14.15. The 52-week high for LVMUY.PK occurred on January 21, 2004, and the 52-week low occurred on July 25, 2003. Forty-two percent of the stock is held by insiders. The company has a
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Approximate Word count = 1053
Approximate Pages = 4 (250 words per page)
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