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Jul 24, 2024
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look to lvmh.ing sell down european companies that get the bulk of their sales from china. here is the gap in terms of the stock performance of those exposed companies versus those that have less chinese exposure. 7:15 u.k. time, we will speak to the ceo of the private taking group efg international, and at 7:30 a.m. on a big day for earnings, santander's cfo will be speaking to the team on "the opening trade," as well. that show coming up next. stay with us. this is bloomberg. ♪ the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy'
look to lvmh.ing sell down european companies that get the bulk of their sales from china. here is the gap in terms of the stock performance of those exposed companies versus those that have less chinese exposure. 7:15 u.k. time, we will speak to the ceo of the private taking group efg international, and at 7:30 a.m. on a big day for earnings, santander's cfo will be speaking to the team on "the opening trade," as well. that show coming up next. stay with us. this is bloomberg. ♪...
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Jul 24, 2024
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this is one of the biggest decliners in france, lvmh, off by 5.25%. sales grew 1% on an organic basis to just under 21 billion euros and that's compared to expectations of a 3% rise. the luxury group said sales in asia and japan experienced a big pullback on spending in china. i want to show you. obviously we've had an update from many of these companies over the last two weeks or so, and they were equally bleak. hugo boss down 3.8%. lvmh down by more than 5%. bushry holding up a tad better, only losing 2%. let's get more on this from charlotte who's been covering the story. i heard comments from lvmh. they say chinese consumers held up, but it wasn't well enough. they're actually traveling to japan, but the yen is so weak it's not necessarily helping the bottom line, is it? >> no, that's a very interesting we tend that we see in asia. that's having an impact for lvmh. compared to european prices, there's a 20% premium in china. there's only a 10% premium in japan, so that shifts things, buying products in china will have an impact on lvmh. it will ce
this is one of the biggest decliners in france, lvmh, off by 5.25%. sales grew 1% on an organic basis to just under 21 billion euros and that's compared to expectations of a 3% rise. the luxury group said sales in asia and japan experienced a big pullback on spending in china. i want to show you. obviously we've had an update from many of these companies over the last two weeks or so, and they were equally bleak. hugo boss down 3.8%. lvmh down by more than 5%. bushry holding up a tad better,...
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Jul 24, 2024
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carrying one of the biggest rivals here to lvmh falling to 3%.ack over to you. >>> we turn our attention back to u.s. margins and earnings. tesla and alphabet weighing in. you see tesla down more than 7% right now. alphabet down more than 3%. both hitting their lows of the morning. we have a lot more big earnings today. that including at&t, ford, chipotle, and ibm. joining me now is a funder and member of the cnbc financial advisory panel. good morning. great to see you. >> good morning. great to see you too. >> everybody was saying earnings season, especially when it comes to big tech and the ai trade, it's show and prove time. we need to see it. are you worried the tech sector may not live up to these lofty expectations, and if we're worried about it, what are the market implications? >> i'm not so concerned. what we're seeing is they're growing their earnings. trees don't grow to the skies. they're not growing them as fast as they had been in the past. tesla's problem is they're not selling enough cars. that's not so much a tesla issue. they'r
carrying one of the biggest rivals here to lvmh falling to 3%.ack over to you. >>> we turn our attention back to u.s. margins and earnings. tesla and alphabet weighing in. you see tesla down more than 7% right now. alphabet down more than 3%. both hitting their lows of the morning. we have a lot more big earnings today. that including at&t, ford, chipotle, and ibm. joining me now is a funder and member of the cnbc financial advisory panel. good morning. great to see you. >>...
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Jul 26, 2024
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the empire of lvmh is everywhere here.edals made by the company along with the opening ceremony uniforms worn by team france. tonight, the champagne served and we learned the flagship dior store and our cameras were the first ever allowed inside of the salon of christian dior. i asked bernard arnault to share the significance of where we were. >> it is here that started the whole story of christian dior for his fashion company and when i bought dior a few years later, because he died in '57. most well known designer on the planet in only ten years without the internet or everything. he had every cover the every magazine. cover of "time" magazine. great success. he started here where we are. this is, by the way, his desk. that is the desk of mr. dior. he was drawing on this desk. >> wow. >> what we tried to do is to rearrange this room according with his taste. we try to buy back some things he had himself. like some nice paintings and nice furniture and to reinvest for our best partners or customers. we have it in the othe
the empire of lvmh is everywhere here.edals made by the company along with the opening ceremony uniforms worn by team france. tonight, the champagne served and we learned the flagship dior store and our cameras were the first ever allowed inside of the salon of christian dior. i asked bernard arnault to share the significance of where we were. >> it is here that started the whole story of christian dior for his fashion company and when i bought dior a few years later, because he died in...
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Jul 15, 2024
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lvmh managing to go down 1.4%. hugo boss down 2.4. burberry down 15%. big downfall for feragamo with the big decline as well with the decline of swatch also pointing to a tough economic environment. the economic recovery for the consumer is not faring well for the luxury players. frank. >> arabile, thank you very much. arabile gumede live from london. >>> we have a market flash on super micro. we are watching shares following the news on friday that the company will replaced walgreens boots alliance in the nasdaq 100 before july 22nd. shares up over 2%. super micro will replace walgreens boots alliance in the nasdaq 100 on july 22nd. >>> coming up on "worldwide exchange," the largest deal ever. details on reported alphabet acquisition and multibillion dollar bet on one cybersecurity player. we'll be right back after this break. what is cirkul? cirkul is what you hope for when life tosses lemons your way. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, ava
lvmh managing to go down 1.4%. hugo boss down 2.4. burberry down 15%. big downfall for feragamo with the big decline as well with the decline of swatch also pointing to a tough economic environment. the economic recovery for the consumer is not faring well for the luxury players. frank. >> arabile, thank you very much. arabile gumede live from london. >>> we have a market flash on super micro. we are watching shares following the news on friday that the company will replaced...
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Jul 25, 2024
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there is a slowdown with lvmh with 1% growth for lvmh. other houses down 5%.nly the smaller house for them with good momentum and continuing. overall, it is a tough one for kering. they are looking away from gucci. they created a need for beauty and just starting to build and create a perfume acquisition. they bought a stake in valentin oval valentino. it is not bearing fruit yet. kering is down 47% over the past few months. >> i wonder at what point have we hit a trough in sentiment with the overall sector. we heard from lvmh and beturber and hugo boscs. it has to be priced in. >> it is different positions of them. we saw from montclair today that when the uk looked for the wealthier customers, we have hermes reports after the break. hermes up 12%. is there is a focus on the aspirational buyer. we have weakness coming through and we were told earlier that kering had the strength of pushing into street wear of buyers. that is why they are hit. >> charlotte, thank you for that analysis. >>> let's get to data from germany. german business sentiment darkening in
there is a slowdown with lvmh with 1% growth for lvmh. other houses down 5%.nly the smaller house for them with good momentum and continuing. overall, it is a tough one for kering. they are looking away from gucci. they created a need for beauty and just starting to build and create a perfume acquisition. they bought a stake in valentin oval valentino. it is not bearing fruit yet. kering is down 47% over the past few months. >> i wonder at what point have we hit a trough in sentiment with...
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Jul 16, 2024
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the best in class, lvmh, is still worthy of one getting into.t doesn't look that way with the share price falling 21% over the past year. >> yeah, certainly we as a house are cautious on the sector. however, we think the genuine luxury companies will do pretty well. our preferred pick is actually hermes. second to none in terms of waiting list for products. if you have a waiting list, no matter how the down turn is, you have pricing with volume growth. hermes is clearly the most luxury. we like the richemont at 4% in the recent quarter compared to the double digit decline in watches. the last one we would highlight is prada. this is more in the fashion end of the space. if you manage to capture the attention of consumers and prada is clearly doing that and you can do very well. in contrast, you can see some of the soft luxury guide elsewhere. hugo boss and burberry and for whatever reason, the collection is not working. management changes yesterday with burberry replacing the ceo. that means it will be another year before we see if another turn
the best in class, lvmh, is still worthy of one getting into.t doesn't look that way with the share price falling 21% over the past year. >> yeah, certainly we as a house are cautious on the sector. however, we think the genuine luxury companies will do pretty well. our preferred pick is actually hermes. second to none in terms of waiting list for products. if you have a waiting list, no matter how the down turn is, you have pricing with volume growth. hermes is clearly the most luxury....
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Jul 24, 2024
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lvmh yesterday posting growth of just 1% in the quarter with watches and jewelry down 4% on the call.cfo said chinese shoppers are buying luxury goods in japan and that's because the weak yen has created massive discounts there for lux ury goods, but tht has come at the expense of profit and margin and the aspirational consumer has pulled back and lvmh cfo also saying there is a, quote, severe drop in champagne sales which he said are, quote, linked with celebration and happiness. so the champagne index showing a big happiness deficit right now in the world, kelly, hermes reports tomorrow. we'll see that is the very high end of the high end and we'll see if they do any better. >> or they're drinking non-alcoholic beer and certainly not buying gucci, but we'll talk about that another time. thank you. >>> ford has only missed in the top line twice in the past 20 quarters and we're talking earnings exchange and not tesla, next. >>> welcome back. we've got some names on deck to report. we heard from tesla last night. tonight we hear from ford which is pulling back from the 52-week highs e
lvmh yesterday posting growth of just 1% in the quarter with watches and jewelry down 4% on the call.cfo said chinese shoppers are buying luxury goods in japan and that's because the weak yen has created massive discounts there for lux ury goods, but tht has come at the expense of profit and margin and the aspirational consumer has pulled back and lvmh cfo also saying there is a, quote, severe drop in champagne sales which he said are, quote, linked with celebration and happiness. so the...
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Jul 24, 2024
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meantime, some macro worries getting folded in as well from visa, capital one, lvmh.wo-year yield is the lowest since february. our road map begins with warning signs for mega cap tech. tesla and alphabet fail to impress. >>> plus visa saying consumer spending remains strong while jpmorgan sees signs the macroeconomic picture may be "cracking." >>> and at&t delivers a beat for wireless phone subscription additions and the shares are higher, at least a half hour before we get started with trading. >>> let's get started with trading this morning, tumbling in premarket on that earnings miss. on the call last night, elon musk did stress the importance of autonomy and optimus going forward. >> i can't emphasize just the importance of autonomy for the vehicle side and for optimus. all of the numbers sound crazy. i think tesla producing at volume with -- essentially enabling the fleet to operate like a giant autonomous fleet and to take the valuation to some pretty crazy number. arc invest thinks on the order of $5 trillion. i think they're probably not wrong. and long-term,
meantime, some macro worries getting folded in as well from visa, capital one, lvmh.wo-year yield is the lowest since february. our road map begins with warning signs for mega cap tech. tesla and alphabet fail to impress. >>> plus visa saying consumer spending remains strong while jpmorgan sees signs the macroeconomic picture may be "cracking." >>> and at&t delivers a beat for wireless phone subscription additions and the shares are higher, at least a half hour...
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Jul 26, 2024
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so staying long with bernard. >> and the lvmh is in your acronym.en worried about the consumer for a long time. here we do have a lot of different data points, you know, for different income cohorts that indicate that there might be some trouble. how are you feeling now compared to before? >> yeah, i think it really -- it solidifies my belief that, you know, for the ultrahigh end consumer, the hermes shopper who is totally okay spending $10,000 for a handbag, no problem, is very different than the vuitton customer who's pushing themselves up to a $1,000 handbag made of canvas. it's just not the same shopper at all. that ultrahigh end consumer is benefitting from the higher interest rates. they benefitted from initially low interest rates in terms of their asset pricing, and now they're enjoying high interest rates in terms of generating returns from that. they are well protected. everyone else it's much more challenging and at kerring it's really a function of execution. what we saw at gucci was a function of losing really great designer talent, and
so staying long with bernard. >> and the lvmh is in your acronym.en worried about the consumer for a long time. here we do have a lot of different data points, you know, for different income cohorts that indicate that there might be some trouble. how are you feeling now compared to before? >> yeah, i think it really -- it solidifies my belief that, you know, for the ultrahigh end consumer, the hermes shopper who is totally okay spending $10,000 for a handbag, no problem, is very...
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Jul 25, 2024
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i was listening to the lvmh call yesterday. i want to see if you agree with the comments. think we may have technical difficulties. javier, people are not buying champagne because they are not happy. and people are not buying tiffany because they are not getting mattrried. they cited geopolitical issues. do you agree or disagree gl globally? people are not as happy an as in the past and not as willing to spend? >> i don't know about that. i do think economically when there's more pressure, you tend to celebrate less. you have to direct your spending or your income to more necessary things that we call the staples. i think in the case of champagne, there's a different cycle to the one you might have in hard luxury. there in luxury drinks and luxury spirits, which we have seen of what is happening in champagne is we have seen a very big destocking happening cycle provided by wholesealalewholesa. that is different from the other parts of the luxury sector. >> javier, thank you very much. >> thank you. >>> coming up on "worldwide exchange," canary in the coal minor isolated in
i was listening to the lvmh call yesterday. i want to see if you agree with the comments. think we may have technical difficulties. javier, people are not buying champagne because they are not happy. and people are not buying tiffany because they are not getting mattrried. they cited geopolitical issues. do you agree or disagree gl globally? people are not as happy an as in the past and not as willing to spend? >> i don't know about that. i do think economically when there's more...
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Jul 26, 2024
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however, the surprise in these results was a luxury giant, lvmh , it missed estimates.s biggest units -- its biggest units grew by only 1%. the bright spot for lvmh was japan. sales soared there in the second quarter by almost 60%. notably chinese tourists are taking advantage of the week yen -- weak yen to do their shopping there. and the rest of the sector, gucci is still in a turnaround phase as well as burberry. but they also got rid of the ceo. so it is difficult. tom: ok, angelina in paris with a fantastic wrap of what has been a significant week for the luxury sector and hermes holding its head above water. other stories making the news this friday -- a confirmation that meta is interested in buying a stake in the world's biggest eyewear maker. u.s. tech giant intends to become a shareholder potentially building on a years long partnership to develop smart glasses. it is not planning a capital increase in the u.s. -- and the u.s. firm would buy shares on the markets. alphabet shares dropping after it's open -- after openai said it is launching a test version of i
however, the surprise in these results was a luxury giant, lvmh , it missed estimates.s biggest units -- its biggest units grew by only 1%. the bright spot for lvmh was japan. sales soared there in the second quarter by almost 60%. notably chinese tourists are taking advantage of the week yen -- weak yen to do their shopping there. and the rest of the sector, gucci is still in a turnaround phase as well as burberry. but they also got rid of the ceo. so it is difficult. tom: ok, angelina in...
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Jul 26, 2024
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hermes with the second quarter revenue rise and despiting disappointing earnings from lvmh. regions, except for china, grew double digdigits. the number of customers had fallen. charlotte joins us with more. a lot of luxury names reporting this week. this one a little more resilient. >> yes. in a league of their own is hermes. luxury is luxury. they suffer less from the downturn and squeeze from the buyer. q2 sales up 13% for the second quarter on the organic basis. there is still growth in that region despite the slowdown there. positive surprise in the americas as well up 13%. that is the acceleration after q1 as well. europe is also up 18%. what is interesting is looking at the different divisions, luxury goods up 18%. silk and scarves were lower by 6%. that is the division where most products are the aspirational buyer. ties or silk scarves. we see that squeeze having an impact on that unit. here again for hermes, we talk about ferrari recently with the business model. there is more demand than offer. there are waiting lists for the products and you wait for a birkin bag
hermes with the second quarter revenue rise and despiting disappointing earnings from lvmh. regions, except for china, grew double digdigits. the number of customers had fallen. charlotte joins us with more. a lot of luxury names reporting this week. this one a little more resilient. >> yes. in a league of their own is hermes. luxury is luxury. they suffer less from the downturn and squeeze from the buyer. q2 sales up 13% for the second quarter on the organic basis. there is still growth...
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Jul 24, 2024
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lvmh looking at a 14% drop of sales.al concern about the slowing down of economy and with investors waiting for a rate cut that they aren't likely to get in july. we're going to speak with mike brown next, the c.e.o. of travel and leisurer. this is bloomberg. ♪ sweat isn't sweet. it's salty. lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty. sonali: one stock we are watching is travel and leisure. shares are falling after the company issued a week forecast. joining us is abigail doolittle. abigail: down about 8%, the worst day since june of 22. it's not all bad in terms of the quarter that was reported, earnings be by 9% and sales there was a modest miss but you can see in the perspective of the recent quarters that sales of nearly $1 billion was basically a sequential gain from the first quarter and in the zip code of the last several quarters. what is weighing is that guide you were just talking about in terms of the third quarter guide. a little bit weaker than with the str
lvmh looking at a 14% drop of sales.al concern about the slowing down of economy and with investors waiting for a rate cut that they aren't likely to get in july. we're going to speak with mike brown next, the c.e.o. of travel and leisurer. this is bloomberg. ♪ sweat isn't sweet. it's salty. lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty. sonali: one stock we are watching is travel and leisure. shares are falling after the company issued a week...
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Jul 24, 2024
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chinese shoppers meanwhile are holding back on spending on high—end fashion — sales at luxury retailer lvmharkets picked up slightly. sales at the group, which owns brands like louis vuitton, tiffany and hennessy, grew byjust1% in the march tojune quarter compared with the same period last year. toymaker mattel beat wall street estimates for the march tojune quarter. a tight control on costs helped the results, since sales were actually down. the maker of barbie has been streamlinig its supply chain and plans to exit underperforming product lines. the company says sales are suffering as consumers choose to spend more on experiences and services. and that's it for this edition of business today. you can always logon for all the news and updates on the bbc website. thanks for watching. hey, i'm lola with the catch up. first — violence against women and girls is a national emergency. that's according to a police report, which also says influencers like andrew tate are radicalising boys into extreme misogyny in a way they call "quite terrifying". the national police chiefs' council estimates ab
chinese shoppers meanwhile are holding back on spending on high—end fashion — sales at luxury retailer lvmharkets picked up slightly. sales at the group, which owns brands like louis vuitton, tiffany and hennessy, grew byjust1% in the march tojune quarter compared with the same period last year. toymaker mattel beat wall street estimates for the march tojune quarter. a tight control on costs helped the results, since sales were actually down. the maker of barbie has been streamlinig its...
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Jul 24, 2024
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shares of french luxury goods giant lvmh — home to brands including louis vuitton, dior and tiffany —onomic woes in china and a cost of living crisis around the world are weighing on high—end brands. markets will now be braced for results from gucci owner kering after the wall street close and hermes tomorrow. us defense giant lockheed martin has raised its sales targets for the year to $71 billion. it follows the unexpected resumption of deliveries of its f35 aircraft, after the pentagon began accepting the jets last week following long delays due to software upgrades. britain's crown estate, which manages the public property of king charles, has published an record annual profit at eu charles, has published an record annual profit at £1.1 billion, $1.1; billion. it has been boosted by income from offshore wind farms. the crown estate controls the revenue for most of britain's sea bed, along with a sizeable footprint of urban property. and the closure of more than 200 carpet stores in the uk has left many store owners in trouble. a rival shop has said it will fulfil 54 rival shop has
shares of french luxury goods giant lvmh — home to brands including louis vuitton, dior and tiffany —onomic woes in china and a cost of living crisis around the world are weighing on high—end brands. markets will now be braced for results from gucci owner kering after the wall street close and hermes tomorrow. us defense giant lockheed martin has raised its sales targets for the year to $71 billion. it follows the unexpected resumption of deliveries of its f35 aircraft, after the pentagon...
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Jul 26, 2024
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you had lvmh up there. hermes as well. it's clear we have the consumer environment as we see it is no longer as healthy as it seemed to be, but you're actually where execution matters and we're seeing distinction when it comes to actual company specifics. with the election and all the macro and that's taking a backseat in terms of the stock market today, but what we're supposed to do is look beyond. we see businesses doing better than others and unlike in the last three, four years with the pandemic with the rising and receding tide, the answer to that right now is yes. >> so you think this kind of goes back to pandemic, and we've seen in other industries where there were -- there were areas that worked really well, and steve mentioned as well in the gdp numbers, we have seen inventory destocking and restocking and it could be a bad back-to-school season or christmas. just unpack that for us a little bit more. >> the beauty of this sector, it's so easy to create these stories. so easy to just effectively round everything u
you had lvmh up there. hermes as well. it's clear we have the consumer environment as we see it is no longer as healthy as it seemed to be, but you're actually where execution matters and we're seeing distinction when it comes to actual company specifics. with the election and all the macro and that's taking a backseat in terms of the stock market today, but what we're supposed to do is look beyond. we see businesses doing better than others and unlike in the last three, four years with the...
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Jul 24, 2024
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shares of french luxury goods giant lvmh — home to brands including louis vuitton, dior and tiffany — a cost—of—living crisis around the world are weighing on high end brands. markets will now be braced for results from gucci owner kering after the wall street close — and hermes tomorrow. that's it from us. stay with us on bbc. hello from the bbc sport centre. britain's joint most decorated female olympian charlotte dujardin has been provisionally suspended by equestrian's governing body the fei. the dressage rider had already pulled out of the olympics in paris after a video emerged which she said showed her "making an error of judgment". a warning, the footage you are about to see shows a horse being whipped. dujardin is now provisionally suspended by the fei, british equestrian and british dressage until the outcome of the investigation. they all say they take equine welfare extremely seriously. "why has the video emerged now?" people are asking. the lawyer representing the claimant says their client had to think long and hard about whether to bring it to attention and understands
shares of french luxury goods giant lvmh — home to brands including louis vuitton, dior and tiffany — a cost—of—living crisis around the world are weighing on high end brands. markets will now be braced for results from gucci owner kering after the wall street close — and hermes tomorrow. that's it from us. stay with us on bbc. hello from the bbc sport centre. britain's joint most decorated female olympian charlotte dujardin has been provisionally suspended by equestrian's governing...
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Jul 25, 2024
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you want to go to that luxury company lvmh. >> lvmh job announce some poor operating profit dropped abouttric company and on this air, i've said many times, always invest because it never goes out of style and in good economy is in bad economies. people buy it. but what's happening here is people are staying last there. because how who acts and they're spending less on champagne and cognac. the more modest purchases are being cuti not the high end, but the modest ones that's tells me the middle class, the u.s. middle class, the world struggling right now. prestige purses, prestige purchases. easy for me to say really skyrocket in. 22 23, but we're seeing a slowing visa announced more delinquencies out there. so we're seeing a slowing in the consumer and this is even reflected now in luxury goods, even burberry and gucci year. our showing a slowdown. i'm pretty unheard of. but again, and the fed needs to cut rates to stimulate economy. i never would have thought of it that way. so here i am struggling to pay. you said credit cards right? >> and but invest in stuff which people want because
you want to go to that luxury company lvmh. >> lvmh job announce some poor operating profit dropped abouttric company and on this air, i've said many times, always invest because it never goes out of style and in good economy is in bad economies. people buy it. but what's happening here is people are staying last there. because how who acts and they're spending less on champagne and cognac. the more modest purchases are being cuti not the high end, but the modest ones that's tells me the...
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Jul 24, 2024
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stock now down by 8 and 1/3%. >>> lvmh dropping. down 14%.n by almost 10%. 10% year to date. the chart. all right. results dragging down other luxury stocks. lvmh down 10% for the year. many of the other stocks down as well. hugo boss down by 4.4%. >>> futures, which are impacted by some of those tech earnings from last night. we get to, you can see, nasdaq down 232. get to mike santoli at the nyse, and kind of smart. the nasdaq, was it picking up some -- i mean, in recent weeks? maybe some actual fundamentals in that magnificent seven that didn't work that great j.t. did it know somehow? >> the rotation talking about the last couple of weeks seemed to have something to do with maybe the magnificent seven-type stocks. losing relative earnings growth advantage just on the margins here. see if that plays through in the next while. s&p 500, joe, you know, going to be down by the futures indication, about another 40 points from here. last week's low. just under 5,500. see if it comes into play. even a modest pullback like in spring, sometime as f
stock now down by 8 and 1/3%. >>> lvmh dropping. down 14%.n by almost 10%. 10% year to date. the chart. all right. results dragging down other luxury stocks. lvmh down 10% for the year. many of the other stocks down as well. hugo boss down by 4.4%. >>> futures, which are impacted by some of those tech earnings from last night. we get to, you can see, nasdaq down 232. get to mike santoli at the nyse, and kind of smart. the nasdaq, was it picking up some -- i mean, in recent...
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Jul 24, 2024
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jonathan: over in europe, lvmh taking a beating as well. numbers not fantastic, the stock down by 4%. going through it line by line, fashion and goods revenue, 1%, compared to a year earlier we were talking about double-digit revenue growth of 21 percent. sales in china down double digits. you want an extra political angle? goldman sachs on china, this is what they had to say, the reason they were cautious on doing fiscal stimulus was the risk of trump. some of that logic is just like save the ammunition in case we need to do more in 2025. if you are a luxury goods maker selling into china, there is a nod from goldman suggesting that chinese authorities are also waiting for the outcome of the election. lisa: you've heard that, basically, there was no incentive for the recent get together in china to put forward or do consumer spending and there was this foreign-exchange angle on this that i love. the fact that the chinese consumer was going to japan to get their goods because it was a lower price because of the currency differential shrinki
jonathan: over in europe, lvmh taking a beating as well. numbers not fantastic, the stock down by 4%. going through it line by line, fashion and goods revenue, 1%, compared to a year earlier we were talking about double-digit revenue growth of 21 percent. sales in china down double digits. you want an extra political angle? goldman sachs on china, this is what they had to say, the reason they were cautious on doing fiscal stimulus was the risk of trump. some of that logic is just like save the...
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Jul 13, 2024
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y fueron hechos con materiales 100% reciclados y sostenibles por el conglomerado de marcas de lujo lvmhuestra edición de las 5 30 no se puede perder la historia de pareja. un muchacho que luego de jugar el partido más importante de su vida, mañana va a ser homenajeado por los san jose earthquakes en el estadio max tendrá todos los detalles de esta realmente impresionante historia. vamos a estar esperando y también vamos a estar esperando tu camiseta de mbappé. ya lo dijo, ya lo dijo, ya lo dijo. tienen que volver a salir. yo sé que tú ya, ya la debes de tener. no, no, no, porque antes que salgan las tiene carlos. en serio que si no había ganado el real madrid y ya tenía la de campeón cuando cuando no habían ganado, no, cuando ganaron. sí, sí la conseguí. sí bueno, otro tema también que me interesó mucho es lo de los uniformes que van a utilizar las personas que van a cargar las medallas. no tanto lujo, tanto detalle de hecho, louis vuitton diseñó tanto los uniformes de los voluntarios en general, los uniformes que va a estar utilizando la delegación francesa y además las cajas donde vie
y fueron hechos con materiales 100% reciclados y sostenibles por el conglomerado de marcas de lujo lvmhuestra edición de las 5 30 no se puede perder la historia de pareja. un muchacho que luego de jugar el partido más importante de su vida, mañana va a ser homenajeado por los san jose earthquakes en el estadio max tendrá todos los detalles de esta realmente impresionante historia. vamos a estar esperando y también vamos a estar esperando tu camiseta de mbappé. ya lo dijo, ya lo dijo, ya...
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Jul 23, 2024
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a number of big names crossing later today including the likes of lvmh and tesla and alphabet. it was a decent day for the u.s. session. making up for some of the losses of last week, the worst for u.s. stocks in about three months. european futures higher by .2%. you look at resources in the hit to iron ore. s&p futures looking at a little bit of softness. nasdaq futures also down by 57 points led by the magnificent seven. bloomberg dollar index a little softer in the session today. about .1%. the u.s. 10 year at 4.23. close to two basis points euro-dollar at 1.08. let's cross over now to singapore. avril hong standing by for a check on the asian markets. avril: we are seeing asia equities in rebound mode, catching a break after three sessions of kleins -- of declines. it's pretty negative elsewhere in the region, including in china and japan. the nikkei has erased gains from earlier in the session of as much as .8% as the yen climbs. i wanted to take you to some of the names that last week were getting hard-hit and this was on the back of concerns about whether they would be
a number of big names crossing later today including the likes of lvmh and tesla and alphabet. it was a decent day for the u.s. session. making up for some of the losses of last week, the worst for u.s. stocks in about three months. european futures higher by .2%. you look at resources in the hit to iron ore. s&p futures looking at a little bit of softness. nasdaq futures also down by 57 points led by the magnificent seven. bloomberg dollar index a little softer in the session today. about...
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Jul 26, 2024
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lvmh says its sales in asia, which include china but not japan, fell by 14% in the three months to the— said weak demand in china helped push down its sales by over 14% in the first half of the year. live now to dr stephane girod, professor of strategy and organizational innovation at imd. thank you forjoining us. is this something went to the cost of living crisis? a slowdown in the economic activity in china affecting all walks of life? we have to affecting all walks of life? - have to differentiate between three levels of forces at play, the first one is looking at firm by firm strategy outcomes. the second one is what is going on, so leave. we also need to look at the deeper structurally. when you look at luxury goods businesses, you hear strong diversion of between hermes which continues to thrive on its strategy of very timed exclusivity. and pmh is an animal in itself because it is so big as a conglomerate, more than 64 billion sales at least. finding new sources of growth comes increasingly difficult, quarter by quarter. and you have other companies that i really into a turnaro
lvmh says its sales in asia, which include china but not japan, fell by 14% in the three months to the— said weak demand in china helped push down its sales by over 14% in the first half of the year. live now to dr stephane girod, professor of strategy and organizational innovation at imd. thank you forjoining us. is this something went to the cost of living crisis? a slowdown in the economic activity in china affecting all walks of life? we have to affecting all walks of life? - have to...
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Jul 25, 2024
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lvmh was down sharply earlier this week. it is down 4.25%. kering is down significantly at 11.5%. down close to 3%. >> i need to know whether it's more than just not as good as last year because that's what they're saying. china emerged from the pandemic and people had pent-up demand and bought a lot of stuff. the comps a year later are not as good. is that all it is or actually -- >> it is more than that. if the comps were not as good -- s >> that's what i mean. i think china is weakness in luxury. it is double digit. mostly china. >> china is the big issue. >> not japan. that area of the world, but mostly china. >> they were behind in terms of coming out from the pandemic. >> still lockdown. >>> shares of viking therapeutics soaring. the obesity drug is advancing to phase three trials. everybody needs it. >> thank you. >> every company needs an obesity. >> you said everybody. >> many people in this country. positive early trial data and notes by analysts who said viking's weight loss treatment could be best in class among injectable drugs. that's strong. that includes lilly's ze
lvmh was down sharply earlier this week. it is down 4.25%. kering is down significantly at 11.5%. down close to 3%. >> i need to know whether it's more than just not as good as last year because that's what they're saying. china emerged from the pandemic and people had pent-up demand and bought a lot of stuff. the comps a year later are not as good. is that all it is or actually -- >> it is more than that. if the comps were not as good -- s >> that's what i mean. i think china...
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Jul 25, 2024
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lvmh was doing better. now it feels bleak. besides gm, it feels like it is a bleak morning for these two industries. lisa: the problem is understanding whether this is weak or weakening. have been talking about this for a long time. is this normalizing or deteriorating? to me the idea of, yes, we saw the worst day for the magnificent seven going back to 2022. yes, we saw the worst day for the s&p 500 going back to september. at the same time the s&p 500 is up for 28 of the last 38 weeks, which is something that has not been exceeded since 1989. jonathan: quite a streak. it is a point worth taking. we are down by .2%, pulling back a little bit in the bond -- pulling back a little bit. in the bond market, on the front end of the curve we are down eight. the difference between the two is getting narrower. that curve is going to stay big. lisa: is it the right kind of steepening? we talk about of the steepener. the fed may cut rates as early as this month. our mark -- our markets pricing in too great of a right-cutting cycle? -- r
lvmh was doing better. now it feels bleak. besides gm, it feels like it is a bleak morning for these two industries. lisa: the problem is understanding whether this is weak or weakening. have been talking about this for a long time. is this normalizing or deteriorating? to me the idea of, yes, we saw the worst day for the magnificent seven going back to 2022. yes, we saw the worst day for the s&p 500 going back to september. at the same time the s&p 500 is up for 28 of the last 38...
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Jul 15, 2024
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lvmh going down 1.9% so far in this early morning trade. > on the back of the assassination attempt, market will assess the risk profile as you can see not much by way of movement across the board. dollar/yen following on intervention from japanese officials has come through below 158 at present. dollar index pretty much unmoved, so, too, spot gold. the ten-year yield is flat at 4.21. crypto had been one to look out for. we had seen bitcoin move higher 5%, in fact, earlier on in the day's trading. that's what you have gotten now. 4.8% to the good. $62,895 for bitcoin. u.s. futures as the market heads to the open and we are still looking out for the earnings update then coming from some of the lenders. netflix is set to report later on in the week. we will unpack those numbers this week. a quick look at the trump media stock as well then. that going up 67% so far on the back, of course, of the assassination attempt. thank you so much for joining us here on "street signs." that's it for today. my name is arabile gumede. we'll continue our coverage then with "worldwide exchange" up next
lvmh going down 1.9% so far in this early morning trade. > on the back of the assassination attempt, market will assess the risk profile as you can see not much by way of movement across the board. dollar/yen following on intervention from japanese officials has come through below 158 at present. dollar index pretty much unmoved, so, too, spot gold. the ten-year yield is flat at 4.21. crypto had been one to look out for. we had seen bitcoin move higher 5%, in fact, earlier on in the day's...
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Jul 8, 2024
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lvmh and kering, this may be linked to the cost cutting at burberry.r concerns over left-wing coalition could mean, and including the left for the french spending and if there is any movement on the wealth tax. no word on the policy to progress. you can see some of the other big names, the direction improved for those and the banks have been sold off aggressively after macron dissolved parliament. it has been a recovery trade and that is now continuing in session today. the big question for us has been just because we had confidence in the short term, is the medium term moving for the french politics? >> that is playing into a little bit of concern in some of these stocks as you can tell those have come off those lows significantly today. is that going to be a sustained sense of positivity throughout not just today, but the rest of the week then as more clarity comes through and who the next prime minister is and all those permutations we are certainly still watching out for. >> that's all for today's show. i'm karen with arabile here in london. thank
lvmh and kering, this may be linked to the cost cutting at burberry.r concerns over left-wing coalition could mean, and including the left for the french spending and if there is any movement on the wealth tax. no word on the policy to progress. you can see some of the other big names, the direction improved for those and the banks have been sold off aggressively after macron dissolved parliament. it has been a recovery trade and that is now continuing in session today. the big question for us...
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Jul 22, 2024
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some in the luxury space including lvmh. we have earnings out today.yanair earnings came out today and they were worst than expected. the company posted a 46% fall. that was well below estimate. the summer fares would be materially lower compared to last year even as demand remains strong. i want to show you the airline sector across the board. ryanair is dragging them all down. ryanair down 11%. lufthansa off 7%. easyjet is trending lower to the tune of 6.5%. let's get some instant perspective and analysis on this with phil lebeau from the farnborough air show. phil, it seems as they we are really seeing pricing pressures not just in your neck of the world, but also here in europe. >> reporter: that's exactly what's happening. because of that, because you had so much capacity brought into the system in terms of the number of basic economy seats in europe and north america, fares have become depressed. look at what happened with revenue per passenger down 10% last quarter for ryanair. that's a direct reflection of fares that are down 15%. it doesn't ma
some in the luxury space including lvmh. we have earnings out today.yanair earnings came out today and they were worst than expected. the company posted a 46% fall. that was well below estimate. the summer fares would be materially lower compared to last year even as demand remains strong. i want to show you the airline sector across the board. ryanair is dragging them all down. ryanair down 11%. lufthansa off 7%. easyjet is trending lower to the tune of 6.5%. let's get some instant perspective...
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Jul 24, 2024
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the consumer was strong for so long, but we're just feeling it everywhere now, and i think that's why lvmhg your restaurant stocks, they're coming in a little lower because people just aren't shopping and eating like they used to, and especially the high end, and like i said, we sell as many french fries as everybody, but having mastro's, martin's, del frisco's and the steakhouse and that's the steak effect and the steak serving u.s. prime and high end and just like the french fry effect and the dom perignon effect, we are feeling the steak effect that people don't want to spend $70 or $90 for a piece of meat. >> it's dom here. you just laid out the case across the entire consumer spectrum over whether or not, there's not necessarily a crash, but more caution developing. i wonder as a business owner and someone who has done a lot in terms of developing businesses do you feel as though this economy in america can avoid a hard landing-type recession or do we just have to kind of bank on this idea that the fed is going to be the huge focus and that's what's going to bail us out? >> i don't --
the consumer was strong for so long, but we're just feeling it everywhere now, and i think that's why lvmhg your restaurant stocks, they're coming in a little lower because people just aren't shopping and eating like they used to, and especially the high end, and like i said, we sell as many french fries as everybody, but having mastro's, martin's, del frisco's and the steakhouse and that's the steak effect and the steak serving u.s. prime and high end and just like the french fry effect and...
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Jul 1, 2024
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lvmh is up 1%. hermes is trading higher b by .80%.hen it comes to the bond market, this is important to monitor in the wake of the french election. we know there is also the speech from christine lagarde happening later on today. there are a couple of moves when it comes to the bond market. thinking about the french election, we have the yield currently at 3.31% for the ten-year french paper. also worth keeping in mind what we have seen between the german bund and french paper is a narrowing of the spread suggesting that investors are putting aside some of the fear and some of the concerns they had going into this election. let's see for how long that will continue. when it comes to the currency space, this is how we are trading. the euro is trading higher against the u.s. dollar at 1.07. it is trading at a two-week high exactly because some investors are looking at the outcome of the french election and feeling okay. this is not as bad as we feared. again, let's see how this one unfolds because we have two days of negotiations among
lvmh is up 1%. hermes is trading higher b by .80%.hen it comes to the bond market, this is important to monitor in the wake of the french election. we know there is also the speech from christine lagarde happening later on today. there are a couple of moves when it comes to the bond market. thinking about the french election, we have the yield currently at 3.31% for the ten-year french paper. also worth keeping in mind what we have seen between the german bund and french paper is a narrowing of...
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Jul 8, 2024
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lvmh and kering in the red. the biggest loser is teleperform being the big loser.redit agricole managing to move higher. so, too, sanofi, managing to move higher. it may have felt positivity, but a lot to come with the prime minister still to be selected in france. what will it mean for the market as well as global trade? frank. >> a lot of green on the board with the index. arabile, i know you have been watching the euro leading up to the second round of the elections? >> we had seen weakness actually as the trading day actually began. now, as it stands unchanged and seeing somewhat of a positive tilt for the euro. perhaps, investors are looking at this saying it is the best of both worlds. it may be the lesser of the two evils option here considering it is not necessarily the right-wing that has moved into a positive spot, but really more the left and that may gal van ize many. does it actually put president emmanuel macron in a much more difficult situation? >> a lot of questions when it comes to politics over there in europe. arabile, great to see you. arabile
lvmh and kering in the red. the biggest loser is teleperform being the big loser.redit agricole managing to move higher. so, too, sanofi, managing to move higher. it may have felt positivity, but a lot to come with the prime minister still to be selected in france. what will it mean for the market as well as global trade? frank. >> a lot of green on the board with the index. arabile, i know you have been watching the euro leading up to the second round of the elections? >> we had...
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the fact that we've already had consolidation among manufacturers of luxury goods having right now lvmhs up a string of luxury products, has something like $944 billion -- 94 billion of sales versus what will be only $10 billion of sales for this new combination of sak's fifth avenue and nieman marcus. and, of course, you have to be impressed by the fact that we have companies like amazon that is an expert at distribution and perhaps also at marketing joining forces. this helps balance the playing field in this particular sector. i want to add a something that's interesting. department store sales, you know, they a peaked a long time ago. the year 2000. 2023 the dollar value of all department store sales in the united states were 43% under that year 2000 peak. is so this is a sector that's slowly disappearing and perhaps is being taken over by online shopping. cheryl: all right. well, obviouslyies this is a major deal in that sector. the stocks are on the move today thed the. market's back open. dennis gartman, thank you for being here. it's good to ceo. >> that thank you for having me
the fact that we've already had consolidation among manufacturers of luxury goods having right now lvmhs up a string of luxury products, has something like $944 billion -- 94 billion of sales versus what will be only $10 billion of sales for this new combination of sak's fifth avenue and nieman marcus. and, of course, you have to be impressed by the fact that we have companies like amazon that is an expert at distribution and perhaps also at marketing joining forces. this helps balance the...
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Jul 15, 2024
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all the luxury stocks are down, lvmh and richemont falling between 3% and 4%.ironment to transition as a brand, but a lot of this is very brand-specific to burberry. >> you can see it in some of the other turn-around stories like caring, with gucci under pressure, it's harder. they're getting hit harder because it's a tougher environment. ultimately it's about -- it's about being where the consumer is. and there are brands right now like prada and hermes and chanel, they can do no wrong even in a tough environment. it feels really bifurcated. >> those companies you mentioned know their customers, they know their products and they know what works. this is a very difficult environment where consumers just are unforgiving about brands that don't know exactly what they stand for. you don't know as a customer what the value proposition is. you don't know what is gucci as a brand, what is burberry as a brand. it's just a very tough time to have to figure that out. those two brands are the worst performers right now because of that. >> yeah, we'll talk more, i'm sure,
all the luxury stocks are down, lvmh and richemont falling between 3% and 4%.ironment to transition as a brand, but a lot of this is very brand-specific to burberry. >> you can see it in some of the other turn-around stories like caring, with gucci under pressure, it's harder. they're getting hit harder because it's a tougher environment. ultimately it's about -- it's about being where the consumer is. and there are brands right now like prada and hermes and chanel, they can do no wrong...
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Jul 23, 2024
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lvmh missing down 4%. more on that name in just a bit.ion on the rise after the regional bank comeback. the whole etf is up. >> amazing. >>> heavy hitters still to report. visa, ma tell after the bell. >>> we'll begin with this earnings season. more signs pointing to that rotation we've been talking about the last few days. more signs pointing to smaller earnings growth this and next quarter for mag seven names. our next guest believes this earnings season will determine market leadership going forward. let's bring in germany brian portfolio manager. i look at your picks here. and the consumer plays big into this. whether we're talking about housing overall or just discretionary consumption. i'm thinking specifically about sherwin williams and coca coca. williams did well in the last report. up 6%. it's also getting back up to recent high. so, why are you sticking with it here and what does this say about what you believe the consumer will do in the back half of the year? >> yeah. i think it lends to both of what we talked about wra with
lvmh missing down 4%. more on that name in just a bit.ion on the rise after the regional bank comeback. the whole etf is up. >> amazing. >>> heavy hitters still to report. visa, ma tell after the bell. >>> we'll begin with this earnings season. more signs pointing to that rotation we've been talking about the last few days. more signs pointing to smaller earnings growth this and next quarter for mag seven names. our next guest believes this earnings season will determine...
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Jul 15, 2024
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. >> lvmh is in a different category. >> they are.n't great, north america wasn't great. everything was terrible, except the british accent. i love them, but -- it was bad. >> well -- and swatch got crushed, too. this is discretionary spend and i think it goes lower. >> all right, for more on luxury retail, let's bring in bill simon, former walmart u.s. ceo. bill, great to see you. what is your take on this, and if you can put this in the sort of mosaic of what we heard from retailers in general in terms of where we see weakness, it seems like you can get a data point from almost every single income cohort that things are not going well. >> yeah, typically -- it's not surprising at all. typically, what you see when things start to soften in the economy from a consumer perspective is the bottom of the economy, which is always closest to the edge, is hit first, and that happened really a couple years ago, if you think about it. other than the, you know, the juice that they got from the money giveaways. we saw the middle class really tak
. >> lvmh is in a different category. >> they are.n't great, north america wasn't great. everything was terrible, except the british accent. i love them, but -- it was bad. >> well -- and swatch got crushed, too. this is discretionary spend and i think it goes lower. >> all right, for more on luxury retail, let's bring in bill simon, former walmart u.s. ceo. bill, great to see you. what is your take on this, and if you can put this in the sort of mosaic of what we heard...
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Jul 25, 2024
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we've heard from a lot of different places whether it's luxury and lvmh, whether it's comcast and theme parks, airlines, et cetera. you know, you name it, we've heard about it. and i think it's just beginning even though some of these stocks have priced a dramatic amount of this in. back to lulu, the question really is, especially with the breeze through, how much of a successful launch was priced in by the analyst community? i think we're going to hear about that in thefection few days and what that means for margin for a company that's gone into this down trend in terms of peak margins. that was part of the jeffries argument three months ago is that they go into this period where this is a stock that's at peak margin right now. what's really going to happen when they actually have to start discounting clear inventory, whether it's breeze through or, you know, tapered leg stuff, it's all about wide bottoms these days apparently. there i go. >> i think wide bottoms are now on their way out, but we'll ask the analyst, she might know more about that than i do. once upon a ime, we were say
we've heard from a lot of different places whether it's luxury and lvmh, whether it's comcast and theme parks, airlines, et cetera. you know, you name it, we've heard about it. and i think it's just beginning even though some of these stocks have priced a dramatic amount of this in. back to lulu, the question really is, especially with the breeze through, how much of a successful launch was priced in by the analyst community? i think we're going to hear about that in thefection few days and...
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Jul 16, 2024
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when you think about what we heard from lvmh, even diegio, estee lauder, i think those trends continue board, even here as a function of china. all we do is speculate when apple is really going to get pushed back in china. we kind of have that feeling it's possibly going on with nike, we're worried about starbucks, mcdonald's. we know the china growth trade has played itself into u.s. names, but clearly in terms of the global luxury, i think china is a bigger name and there's more to go. >> at the same time we have this talk about whether the dollar could be devalued in the new administration or not and we were talked to dave servos who said a stronger dollar makes sense. how do these dollar dynamics figure into where you want to be or avoid when you're looking at international stocks? >> if you're investing internationally, i typically, and certainly in emerging markets, i feel like currency can be 25% to 50% of your return profile. people have taken a view and largely been wrong about the strength of the dollar this year. a lot is central bank differential. so, if you -- i still woul
when you think about what we heard from lvmh, even diegio, estee lauder, i think those trends continue board, even here as a function of china. all we do is speculate when apple is really going to get pushed back in china. we kind of have that feeling it's possibly going on with nike, we're worried about starbucks, mcdonald's. we know the china growth trade has played itself into u.s. names, but clearly in terms of the global luxury, i think china is a bigger name and there's more to go....
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Jul 26, 2024
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lvmh posting a 14% drop in asia last quarter. does that weakness offer a buying opportunity? or should you go elsewhere? let's ask my next guest. first of all, are you surprised by what's been going out with these numbers out of china? do you think u.s. corporate should have -- should they been a little more ahead of the curve here? >> i'm not really surprised, because i haven't been a believer in the shifting of the chinese economy into a consumption led economy. what have the latest gdp numbers suggested? it's happened on the export side. so china is dumping manufacturing goods globally because of the excess capacity there, because of just the inability to stimulate growth on the fiscal stid and the monetary side. >> people talk about this pervasive sense of almost doom amongst chinese consumers post pandemic. is there anything policy wise that would move the needle? when should i buy those chinese stocks on any kind of change that could come out of the ccp? >> i think it's going to be a function of where we are stock by stock on relative valuations and what's really been p
lvmh posting a 14% drop in asia last quarter. does that weakness offer a buying opportunity? or should you go elsewhere? let's ask my next guest. first of all, are you surprised by what's been going out with these numbers out of china? do you think u.s. corporate should have -- should they been a little more ahead of the curve here? >> i'm not really surprised, because i haven't been a believer in the shifting of the chinese economy into a consumption led economy. what have the latest gdp...
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Jul 24, 2024
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lvmh is struggling. we know what happened with burberry a week ago.tility index up 25%, standing at 18.0, at a three-month high. anything alarming to you that we're seeing at the moment? >> i think people are starting to wake up a little bit. i said in my notes, the trend is your friend. that may have broken the dam on things. this has not priced risk on equity side. 24 times on earnings and 35 plus for the nasdaq. credit spreads are historically a low range here. perhaps we have people are starting to reorient hair positions here, that maybe we've gone too far too fast sort of like last year so we should position for more risk and owning more high quality names. liz: eric, really quick, we're one week away from the dow announcement, from the fed announcement. what do you think will happen? a surprise rate hike by any chance in july? >> probably a punt until september. that is probably the most likely outcome. signaling but no action for the fed in this current month. liz: wow. big day. thank you, both of you, big voices we appreciate it, sean o'hara,
lvmh is struggling. we know what happened with burberry a week ago.tility index up 25%, standing at 18.0, at a three-month high. anything alarming to you that we're seeing at the moment? >> i think people are starting to wake up a little bit. i said in my notes, the trend is your friend. that may have broken the dam on things. this has not priced risk on equity side. 24 times on earnings and 35 plus for the nasdaq. credit spreads are historically a low range here. perhaps we have people...
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Jul 22, 2024
07/24
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they are backed by lvmh.earnings tomorrow after the closing bell, so waiting for any potential new stock up at this time. chinese tech giants rebounding today after beijing lowered short and long-term borrowing costs, raising hopes that it will spur business and consumer activity, both alibaba and baidu are up. keep in mind, baidu is still down about 22% this year. >>> up next, deepwater asset management's doug clinton is back and breaking out his playbook for this earnings season. "closing bell" will be right back. (vo) a law partner rediscovers her grandmother's artistry and establishes a charitable trust to keep the craft alive for generations to come. from preserving a cultural tradition to leaving a legacy, a raymond james financial advisor gets to know you, your passions, and the way you enrich your community. that's life well planned. tony, its gone. no. how am i going to do this? welcome to the mdy mid-cap cup, presented by state street global advisors. today's challenge is to play 9 holes without the
they are backed by lvmh.earnings tomorrow after the closing bell, so waiting for any potential new stock up at this time. chinese tech giants rebounding today after beijing lowered short and long-term borrowing costs, raising hopes that it will spur business and consumer activity, both alibaba and baidu are up. keep in mind, baidu is still down about 22% this year. >>> up next, deepwater asset management's doug clinton is back and breaking out his playbook for this earnings season....
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Jul 10, 2024
07/24
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i don't think -- i don't cover lvmh, i tdidn't hear them talkig about marking stuff down. what you're watching is relative to the group. if i were to delete thefourth lulu and just showed you the performance, and you'd say, should i be paying 20 times? and going back to the market multiple, well, lulu has always traded above. that's the give and take. you can say, how is their inve inventory? it was really clean. when retailers make a mistake, they discount, they clean, they start again. that's why we're not ready to make that call. because what could happen, it could be that lulu had a mistake. they had a fashion miss. so, beyond just macro, they had company-specific miss. isn't that nice? i get to say those. >> that's great. >> what about -- the margin is flat for the last two years, and it's a bump, you know, from 55% two years ago, up to 58 or so. you look at a nike at 46% or so. and i think it's probably more macro if you think about it. so, do you not believe that double digit, expected earnings growth and sales growth with a flat martgin next year. if you do, tradin
i don't think -- i don't cover lvmh, i tdidn't hear them talkig about marking stuff down. what you're watching is relative to the group. if i were to delete thefourth lulu and just showed you the performance, and you'd say, should i be paying 20 times? and going back to the market multiple, well, lulu has always traded above. that's the give and take. you can say, how is their inve inventory? it was really clean. when retailers make a mistake, they discount, they clean, they start again. that's...
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Jul 8, 2024
07/24
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. >> yes, because i'm long lvmh.come we had, but what does this mean? that's uncertain. so the cap was down. so, i think it's not crazy to think some sort of soak the rich, tax luckyxury goods, woult be shocking. that i have tried things in the past. some have not been successful. but i think that has to be part of the reason, as well, that it's underperformed today's move down in france. >> but i feel like today's news was a shock, first of all, a big surprise that le pen's group came in third, and that you also don't really have a solid foundation for the far left. so, i would think that that kind of stalemate is fantastic. it's certainly fantastic for europe. and as someone who thinks a european credit crisis, sovereign debt crisis is coming, i won't tell you when, because they've done a great ten-year delay job on it, but i think those are things i'm less worried about today after that surprise election result. >>> all right, eli lilly also on the move today, hitting an all-time high after inking a deal to buy mo
. >> yes, because i'm long lvmh.come we had, but what does this mean? that's uncertain. so the cap was down. so, i think it's not crazy to think some sort of soak the rich, tax luckyxury goods, woult be shocking. that i have tried things in the past. some have not been successful. but i think that has to be part of the reason, as well, that it's underperformed today's move down in france. >> but i feel like today's news was a shock, first of all, a big surprise that le pen's group...
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Jul 22, 2024
07/24
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mattel stock surging 15% today as a private equity firm backed by luxury goods maker lvmh approachedom different suiters including potentially rival hasbro. mattel spokesperson saying the company does not comment on speculation. coming up here, team harris raising $81 million in her first 24 hours alone. wow. we'll take a look at some of the big far left donors backing that campaign but before we get to that let's check in with our pal, jackie deangelis, brian brenberg, they are both in for dagen and sean on the bottom line. what's coming up next guys? >> good to see you, we've got congresswoman anna luna on the big secret service hearing and clay travis on the biden harris switcheroo. jackie: a two-fer with mike huckabee, and lee carter because joe manchin isn't going to challenge kamala, but he's also saying they have a lot of issues to talk about and discuss. brian: discuss amongst yourselves. jackie: we'll see you at the top of the hour. you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's chal
mattel stock surging 15% today as a private equity firm backed by luxury goods maker lvmh approachedom different suiters including potentially rival hasbro. mattel spokesperson saying the company does not comment on speculation. coming up here, team harris raising $81 million in her first 24 hours alone. wow. we'll take a look at some of the big far left donors backing that campaign but before we get to that let's check in with our pal, jackie deangelis, brian brenberg, they are both in for...
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Jul 23, 2024
07/24
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luxury goods maker lvmh, on the other hand, missing the mark.any of louis vuitton, tiffany and key your missed first -- dior missed first-half estimates. lvm if h said geopolitical uncertainties continue to impact specifically wines and spirits. the stock down about 4%. flip it over to share this is of chip designer arm holdings, gaining 5.25% at this hour after morgan stanley upgraded the stock to overweight from equal weight. morgan also raised arm's price target to $1900 per share from 107 -- 1900. right now it's at 172 and change. -- 190. arm reported earnings next wednesday after the bell. >>> apple also getting a bump right now of about half a percent on reports that the iphone maker is working, finely, on a foldable phone. the information reports that the phone could be released as early as 2026. shares are also gaining on the back of a price target hike. wells fargo, this is kind of funny, hoisting its previous $225 price target to $275. why is that funny? well, i found it funny because apple is $1 away9 from the first number, 3225. it's
luxury goods maker lvmh, on the other hand, missing the mark.any of louis vuitton, tiffany and key your missed first -- dior missed first-half estimates. lvm if h said geopolitical uncertainties continue to impact specifically wines and spirits. the stock down about 4%. flip it over to share this is of chip designer arm holdings, gaining 5.25% at this hour after morgan stanley upgraded the stock to overweight from equal weight. morgan also raised arm's price target to $1900 per share from 107...
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Jul 26, 2024
07/24
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amid tensions around the world, luxury goods company lvmh reports a 15% drop in champagne sales in the first half of this year compared to last year. economists say retailers may have also overstocked in 2021 and 2022. >> our time is 5082 bills designed to protect children online have advanced now in congress. the kids online safety act and children and teens online privacy protection act. both passed a procedural vote, setting up a final vote next week. now, the sponsors of those bills say they want to require social media and big tech to take responsibility for how their platforms affect kids and teenagers. they would limit what young people could see online, including targeted ads, and will protect their information. if the bills passed in the us senate, their fate in the house is still not clear. right now, the house is in recess. >> sonoma state university has a new interim president, emily kircher, from texas a&m university will be taking over after the university's previous president, mike lee, retired two days after being placed on administrative leave during pro-palestinian pr
amid tensions around the world, luxury goods company lvmh reports a 15% drop in champagne sales in the first half of this year compared to last year. economists say retailers may have also overstocked in 2021 and 2022. >> our time is 5082 bills designed to protect children online have advanced now in congress. the kids online safety act and children and teens online privacy protection act. both passed a procedural vote, setting up a final vote next week. now, the sponsors of those bills...
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Jul 31, 2024
07/24
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lvmh, this is their home. it will be interesting to see if they continue as sponsors. don't know what you think about that. does disney say to themselves this is our land, we're going to sponsor this? are there companies who play in this space who became sponsors. >> disney, we have to be respectful with your boss in many ways and the olympics and comcast. people forget in 1984 disney designed the mascot. there's a whole group of people who want what california is. >> will you keep surfing in tahiti? can you do it? >> malibu. they're doing it in malibu. >> we've got a couple of choices. the waves aren't great in california summer. >> do it in tahiti. >> and send joe. >> i won't make any jokes about american foreign policy. i guess i could do it in polynesia. >> how spread out do you think you're going to do it? basketball is 2 1/2 hours away, equestrian's at versailles, which is an unbelievable place, but it takes a while to get to. even getting from one event to another in paris, you can't do more than one or two sports in a day. >> we have a different model. about 85
lvmh, this is their home. it will be interesting to see if they continue as sponsors. don't know what you think about that. does disney say to themselves this is our land, we're going to sponsor this? are there companies who play in this space who became sponsors. >> disney, we have to be respectful with your boss in many ways and the olympics and comcast. people forget in 1984 disney designed the mascot. there's a whole group of people who want what california is. >> will you keep...
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Jul 26, 2024
07/24
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. >> to the business of these games and the first sponsorship deal of its kind lvmh, the company madelothing for athletes. you spoke with the company's chairman and ceo. what did you learn? >> it was a rare interview. this is a man feted by business leaders around the world as creating the largest and most successful luxury campaign and perhaps campaign, frankly, in the entire world. this is their effort, if you will, to try and give back to the city where this company was born. they threw a party that was the gala of this event. anna wintour and everybody from lebron james to jill biden were in attendance at that event. but it's really an effort to show off paris. bernard arnault was racing over to a lunch that president macron was holding with a number of big ceos. they're using this olympics as an opportunity to try to gain more investment. among the people at that lunch were folks like elon musk and brian chesky, steve schwartzman and others all descending here on paris for the olympics. >> you spoke to barry diller about the 2024 presidential race. what did he tell you about the
. >> to the business of these games and the first sponsorship deal of its kind lvmh, the company madelothing for athletes. you spoke with the company's chairman and ceo. what did you learn? >> it was a rare interview. this is a man feted by business leaders around the world as creating the largest and most successful luxury campaign and perhaps campaign, frankly, in the entire world. this is their effort, if you will, to try and give back to the city where this company was born....
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Jul 5, 2024
07/24
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plus a lot of the shares are going online, generally, with the power of these big rands, like lvmh, louiss all coalescing around the need for department stores to really bulk up. caroline: what is interesting is whether or not therefore we see consolidation and therefore fewer brick-and-mortar options. when will we start to see them pull back, ultimately that's what consolidation should do, cutting costs and leading into -- leaning into operating efficiency. is that what we are going to see? andrea: it's certainly possible, they have not ruled out store closures yet. macy's is growing the luxury arm while closing stores. paul: what was interesting to me is amazon playing a role here, and salesforce for that matter. what is the role of these tech giants in these transactions? what's the angle? andrea: amazon has long tried to get into luxury fashion and it hasn't really worked out. brands have been reluctant. louis vuitton, dior, they will never sell through amazon. other brands have been reluctant to get involved, they so much cheaper goods and you want your expensive handbags to be in th
plus a lot of the shares are going online, generally, with the power of these big rands, like lvmh, louiss all coalescing around the need for department stores to really bulk up. caroline: what is interesting is whether or not therefore we see consolidation and therefore fewer brick-and-mortar options. when will we start to see them pull back, ultimately that's what consolidation should do, cutting costs and leading into -- leaning into operating efficiency. is that what we are going to see?...