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Jul 25, 2023
07/23
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we are still waiting for lvmh numbers.them is swetha ramachandran and, who tracks the sector. we are going to get your live reaction, but walk us up to this point of what we have heard in the luxury space so far. when have we learned? swetha: i think a lot of it is about how these resort -- results have been framed. if you look at the actual numbers they did point to continued solid growth among key clusters. the marginal disappointment perhaps was in the recovery of the mainland chinese consumer not beating to the extent was expected by the market. that was because outbound travel from china, particularly to europe, has been slow to recover. because flight capacity still remains restricted. visa issuances are still in backlog. we have not seen the full force of the traveling chinese shopper we may have expected in those results. but trans with other clusters, such as the european cluster, japanese cluster, and even the u.s. cluster, was no worse than expected. kailey: let's talk about that u.s. cluster. it was an hour and
we are still waiting for lvmh numbers.them is swetha ramachandran and, who tracks the sector. we are going to get your live reaction, but walk us up to this point of what we have heard in the luxury space so far. when have we learned? swetha: i think a lot of it is about how these resort -- results have been framed. if you look at the actual numbers they did point to continued solid growth among key clusters. the marginal disappointment perhaps was in the recovery of the mainland chinese...
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Jul 26, 2023
07/23
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lvmh said u.s.d as the sluggish economy deterred some shoppers from buying the high-end clothes and handbags. that offset sales rebound in china. it is a privilege to have you with us this morning. can you give us a brief overview of the key financials. >> we saw organic sales growth at 17%, the market expected 15%, so that was a beat and aligned to the q1 number. there is no slowdown on the top line. then we saw a little pickup and gross margin but operating margin was 50 bips lower because they are spending more on advertising and promotion. what we saw overall was strength in the china market. 40% growth on a two year basis, we cannot look at last year because of the closures. then the u.s. down, -1, almost flat versus a year ago. lizzy: interesting barometer of the china economic recovery. despite the mixed picture, market jitters were the result after the release, what were the main concerns? >> the u.s. in particular. when we dug deeper into management, that -1% from the u.s., how quick is thi
lvmh said u.s.d as the sluggish economy deterred some shoppers from buying the high-end clothes and handbags. that offset sales rebound in china. it is a privilege to have you with us this morning. can you give us a brief overview of the key financials. >> we saw organic sales growth at 17%, the market expected 15%, so that was a beat and aligned to the q1 number. there is no slowdown on the top line. then we saw a little pickup and gross margin but operating margin was 50 bips lower...
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Jul 26, 2023
07/23
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dani: lvmh, shares have been falling dramatically. will show you at the close but deutsche bank has cut their target, saying the momentum is now moving to the downside. the rest of the big movers coming up on the close. this is bloomberg. ♪ 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. hi, i'm lauren, i lost 67 pounds in 12 months on golo. golo and the release has been phenomenal in my life. it's all natural. it's not something that gives you the jitters. it makes you go through your days with energy, and you're not tired anymore, and your anxiety, everything is gone. it's definitely worth trying. it is an amazing product. dani: stocks finishing the trading day in europe. no ecb decision yet. we get that tomorrow. we are trading based off of earnings. in europe thus far this earnings season, half of companies have beaten that, worse than what we have
dani: lvmh, shares have been falling dramatically. will show you at the close but deutsche bank has cut their target, saying the momentum is now moving to the downside. the rest of the big movers coming up on the close. this is bloomberg. ♪ 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. hi, i'm lauren, i lost...
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Jul 26, 2023
07/23
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that's what we saw there with lvmh q2 sales, up the u.s. was down 1% and the cfo said last night it was the aspirational level that was falling, whether higher priced goods were falling the return of tourism is benefiting their sales 19% in europe looking at the divisions here as well, the legend of growth, they were up 27%. it was slightly below expectations there in that part of the business. they're performing quite while we saw pharrell williams present his first men's collection watches and jewelry up 13% remember they acquired tiffany's years ago. this is having excellent momentum they just reopened their fifth avenue store, their landmark there. that's 10% of their sales. they hope the return of the reopening of the store will boost sales. sail sales of pharrell performing well the only one that didn't perform was wine and spirits they went down 8%. we saw a lowering of cognac. what we heard is there will be no further price hikes they had to adjust them because of the strong euro they won't do this despite hiking them by 4% in july
that's what we saw there with lvmh q2 sales, up the u.s. was down 1% and the cfo said last night it was the aspirational level that was falling, whether higher priced goods were falling the return of tourism is benefiting their sales 19% in europe looking at the divisions here as well, the legend of growth, they were up 27%. it was slightly below expectations there in that part of the business. they're performing quite while we saw pharrell williams present his first men's collection watches...
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Jul 17, 2023
07/23
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luxury is leading the declines with lvmh and the one stock, richemont, is down 7%.hat is the reason the swiss index is under performing. the ftse 100 is down .20%. some of the laggards include ocado. right at the bottom of the ftse 100 as well as under performance in the likes of glen core. basic resources names and commodities names with links to china. something to watch out for in the ftse this week as the uk cpi numbers released as well that will determine where the bank of england is headed next and ramifications of interest rates and interest rate sensitive sectors. >>> this is the picture across markets today with the foreign exchange the dollar weakness continues. the dollar saw the worst week in over a year. the u.s. dollar was one of the major pullbacks. we see the weakness over the euro we're about .80% weaker. 112. euro continues to move higher. we were in the very tight range and now we pushed through that now. the pound is at 130. i remember talking about very closely with the number breaking through parity at the end of the year last year what a ride.
luxury is leading the declines with lvmh and the one stock, richemont, is down 7%.hat is the reason the swiss index is under performing. the ftse 100 is down .20%. some of the laggards include ocado. right at the bottom of the ftse 100 as well as under performance in the likes of glen core. basic resources names and commodities names with links to china. something to watch out for in the ftse this week as the uk cpi numbers released as well that will determine where the bank of england is...
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Jul 25, 2023
07/23
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lvmh just out with earnings.hinese economy overall is slowing, the high end consumer is still spending robert frank has the numbers >> lvmh reporting 17% sales growth in the quarter of warning signs, flashing here in the u.s. with sales in america falling 1% the cfo saying the aspirational consumer in the u.s. is "not shopping the way they used to. this is showing up especially in cognac and spirit sales, but also in saeter goods and jewelry. he said it's the entry level items falling, the goods for the wealthy, they are still performing well. there was one caveat, and i highlighted some of this last week that was americans who are shopping in europe, there by cannibalizing sales here in the u.s. half of that came from tourists, and most of those tourists were american the one bright spot in all of this was china despite fears of a e sloslowing economy, the chinese wealthy are spending strong. sales were up 34%, especially sales of leather goods and julie. lvmh was also hit with higher experiences, especially for
lvmh just out with earnings.hinese economy overall is slowing, the high end consumer is still spending robert frank has the numbers >> lvmh reporting 17% sales growth in the quarter of warning signs, flashing here in the u.s. with sales in america falling 1% the cfo saying the aspirational consumer in the u.s. is "not shopping the way they used to. this is showing up especially in cognac and spirit sales, but also in saeter goods and jewelry. he said it's the entry level items...
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Jul 25, 2023
07/23
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luxury giant lvmh will sponsor the next olympic games in paris, and notjustany sponsor, but a premiumd will play a role by sharing its creativity and craftsmanship throughout the games. the terms of the deal haven't been disclosed but it's expected to be worth $160 million. let's quickly check the japanese market. flat despite an ok performance by wall street overnight. that is it for the programme, thank you so much for watching the show. bbc news — bringing you different stories from across the uk. cows on quick peek, controlled by the colours around their necks. ., .., , by the colours around their necks. ., .. , �* ., by the colours around their necks. ., , �* ., ., necks. you can see we've got a solar panel— necks. you can see we've got a solar panel on _ necks. you can see we've got a solar panel on the _ necks. you can see we've got a solar panel on the back - necks. you can see we've got a solar panel on the back which l solar panel on the back which charges the battery. they are nice and lightweight and flexible so the cows have plenty of room to move, and there is a gps loca
luxury giant lvmh will sponsor the next olympic games in paris, and notjustany sponsor, but a premiumd will play a role by sharing its creativity and craftsmanship throughout the games. the terms of the deal haven't been disclosed but it's expected to be worth $160 million. let's quickly check the japanese market. flat despite an ok performance by wall street overnight. that is it for the programme, thank you so much for watching the show. bbc news — bringing you different stories from across...
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Jul 25, 2023
07/23
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lvmh said the band will play a role by sharing its creativity and craftsmanship throughout the games.disclosed but it's of the deal haven't been disclosed but its expected to be worth $160 million. that is it for the programme, thank you so much for watching the show. bbc news — bringing you different stories from across the uk. this is vinnie from cardiff, a former drug dealer who was hooked on heroin from the age of 1a. he also took pills, but not the real ones from the doctor, fake ones he bought on the street and online. the drugs are sedatives, you might know them by their names valium, diazepam and xanax. and there are concerns that people increasingly buy them on loan thinking they are getting legitimate pharmaceutical products. the latest figures suggest they were 61 drug deaths in wales involving these drugs in 2021, up from 35 in 2020. it is something that drugs charities are concerned about. , ., , ., about. the problem with all these drugs, _ about. the problem with all these drugs, they _ about. the problem with all these drugs, they are - about. the problem with all thes
lvmh said the band will play a role by sharing its creativity and craftsmanship throughout the games.disclosed but it's of the deal haven't been disclosed but its expected to be worth $160 million. that is it for the programme, thank you so much for watching the show. bbc news — bringing you different stories from across the uk. this is vinnie from cardiff, a former drug dealer who was hooked on heroin from the age of 1a. he also took pills, but not the real ones from the doctor, fake ones he...
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Jul 12, 2023
07/23
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. >>> when we come back, can lvmh take on rolex.about that, next. >>> plus, check out shares of gm moving higher today, after citi opens a positive catalyst watch on the stock ahead of earnings they like it 'sp 2% what if buildings could tell you how they could be more efficient? i'm listening. well, with ibm, you can use software to help you connect and analyze data— from hvacs to elevators to lights. what if we use ai-driven insights to pinpoint inefficiency? yep. and act on it. saving energy, money... ... and emissions. yup. that's a big one. now you've built something better for everyone. that's the sustainability solution ibm and a global real estate company created. what will you create? ibm. let's create. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable traini
. >>> when we come back, can lvmh take on rolex.about that, next. >>> plus, check out shares of gm moving higher today, after citi opens a positive catalyst watch on the stock ahead of earnings they like it 'sp 2% what if buildings could tell you how they could be more efficient? i'm listening. well, with ibm, you can use software to help you connect and analyze data— from hvacs to elevators to lights. what if we use ai-driven insights to pinpoint inefficiency? yep. and act...
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Jul 19, 2023
07/23
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if you put them together, they would be a serious challenger to lvmh.y: what is that harder to pull off in the middle of changing your executive leadership? andrea: this is that group level. the richmont-kering deal would be a group level. what makes it more difficult is that if you months ago, market caps of the two were similar, but richmont has had a similar -- that could encourage you hundred. to sell, but it makes it a harder sell for kering. it could end up being the junior partner. guy: bloomberg's potentially pushing for such a deal. it has been pushing for changes at gucci. are the changes we have seen announced sufficient without knowing what comes next to get an idea of what does come next? andrea: the women i have in thinking about it -- -- they are risky. the way i have been thinking about it is it is a struggling company changing a chairman and chief executive at the same time. you've got this creative change. new collection in september. then you have got an interim ceo. that is tricky. then you've probably got another ceo coming in down
if you put them together, they would be a serious challenger to lvmh.y: what is that harder to pull off in the middle of changing your executive leadership? andrea: this is that group level. the richmont-kering deal would be a group level. what makes it more difficult is that if you months ago, market caps of the two were similar, but richmont has had a similar -- that could encourage you hundred. to sell, but it makes it a harder sell for kering. it could end up being the junior partner. guy:...
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Jul 11, 2023
07/23
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that is boosting names like lvmh. the countdown to the close starts now. >> the countdown is on in europe. this is a bloomberg markets: european close with guy johnson and alix steel. ♪ let's get a check on the markets. stoxx 600 up by .6%, floating with its 200 day moving average. recent evidence would suggest you get a sharp bounce off of that level. not today but we are tracking higher. interesting macro signal coming out of a number of european stocks today. lvmh a good case in point. it is riding on the expectation of stimulus in china. that will boost the consumer and by extension european luxury names. the european story address on luxury names continuing to be baked. diamond trucks, the message coming out is positive today. i wonder whether there is a map of the there as well. demand for taxes high. they are upping -- for trucks is high. they are upping their forecast. what this tells you is the economy -- trucks are the lifeblood of the economy -- is doing ok. that is interesting. trucks having a -- not havin
that is boosting names like lvmh. the countdown to the close starts now. >> the countdown is on in europe. this is a bloomberg markets: european close with guy johnson and alix steel. ♪ let's get a check on the markets. stoxx 600 up by .6%, floating with its 200 day moving average. recent evidence would suggest you get a sharp bounce off of that level. not today but we are tracking higher. interesting macro signal coming out of a number of european stocks today. lvmh a good case in...
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Jul 17, 2023
07/23
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lvmh and hermes also down.stocks late last year and early this year is a bet on the china reopening richmonth reported 40% growth in asia-pacific in the quarter. that was strong. analysts are still expecting growth in china to pick up throughout the year, but with that big gdp miss in china overnight, luxury stocks could face some more price cuts. of course, the big one, lvmh they report on tuesday we'll get a better read on the broad sector on tuesday with lvmh guys. >> go ahead. >> i was going to say, robert, as you know, following these stocks, the pricing power has been pretty unbelievable, like there was no ceiling at one point for what they could chart for carty yeah watches or vanchief jewelry have they found that has that stopped >> i think that's a great point. to me that is the big question you look at the chanel flat bag, a bag that nearly doubled in price during the pandemic. it's now $10,000 you know, all these companies, with the exception of lvmh, limited price increases to around 6 to 8%, they a
lvmh and hermes also down.stocks late last year and early this year is a bet on the china reopening richmonth reported 40% growth in asia-pacific in the quarter. that was strong. analysts are still expecting growth in china to pick up throughout the year, but with that big gdp miss in china overnight, luxury stocks could face some more price cuts. of course, the big one, lvmh they report on tuesday we'll get a better read on the broad sector on tuesday with lvmh guys. >> go ahead....
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Jul 27, 2023
07/23
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potentially a sign of the economy slowing down lvmh did say sales are still on the rise across asia and>>> the department of labor has release ident released eye-opening new numbers. investigators found more than 4400 children employed in violation of child labor laws. that's a 44% increase from the period of october 2021 to july 2022 a senior department official said the bump was due to emphasized enforcement of child labor laws and also noted an 87% increase in company fines during the same time frame. >>> amazon is cutting some jobs at its fresh grocery stores. they are getting rid of the zone lead those are lower-level management positions that handle responsibilities like overseeing certain departments and training new employees. they have 44 stores in eight states and hundreds were let go during this restructuring. >>> interest rates have been hiked to the highest level in 2 years. this is the 11th rate hike and since the fed is aiming forf for 2%, we got a quarter point hike yesterday with another one possible in september. higher interest rates have pushed mortgage rates past 7%
potentially a sign of the economy slowing down lvmh did say sales are still on the rise across asia and>>> the department of labor has release ident released eye-opening new numbers. investigators found more than 4400 children employed in violation of child labor laws. that's a 44% increase from the period of october 2021 to july 2022 a senior department official said the bump was due to emphasized enforcement of child labor laws and also noted an 87% increase in company fines during...
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Jul 26, 2023
07/23
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lvmh is down about 3%. rich month's down as well.ther once like swatch are also trading to the downside and interestingly, almost all of the divisions were outstanding. leather goods were down just a little bit and david, the curious thing is the wine and spirits division. for some strange reason. cognac sales in the united states seem to have been down. this wasn't my fault i had absolutely nothing to do with that. i'm doing my best. >> we know you are, bob. >> thank you, david, that part for some reason was the weak part and it wasn't terrible, but when you moves like this, 24% in the biggest luxury retailer in the world, any little misstep, and this is part of the problem with earnings, with the price moves we've seen, good numbers are not good enough. and that's exactly what jpmorgan said >> i'm really glad that you delved into. it the numbers yourselves are very strong. but u.s. weaker, new entrance into luxury. cognac, which we talked about at the top of the show for some reason, people not drinking as much now, you had richmon
lvmh is down about 3%. rich month's down as well.ther once like swatch are also trading to the downside and interestingly, almost all of the divisions were outstanding. leather goods were down just a little bit and david, the curious thing is the wine and spirits division. for some strange reason. cognac sales in the united states seem to have been down. this wasn't my fault i had absolutely nothing to do with that. i'm doing my best. >> we know you are, bob. >> thank you, david,...
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Jul 25, 2023
07/23
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and finally before we go, luxury giant lvmh will sponsor next year's olympic games in paris!le by, quote, "sharing its creativity and craftsmanship throughout the games. " the terms of the deal have not been released, but is expected to be worth some $160 million. it also comes almost exactly a year to go until that opening ceremony of the paris games. let's see how the asian markets are faring today. asian sharesjumped on tuesday as china's pledge to step up policy support for its stuttering economy soothed sentiment and lifted beaten—down hong kong and chinese stocks, while the dollar eased ahead of the federal reserve meeting this week. and this is how wall street closed monday. business activity in the us slowed to a five—month low injuly, dragged down by decelerating service—sector growth, according to a closely watched survey on monday. breakfast next in the uk. stay with us here on bbc news. hello. some parts of the uk, particularly parts of northern england and northern ireland, have already seen the wettestjuly on record. and you probably won't be too surprised to he
and finally before we go, luxury giant lvmh will sponsor next year's olympic games in paris!le by, quote, "sharing its creativity and craftsmanship throughout the games. " the terms of the deal have not been released, but is expected to be worth some $160 million. it also comes almost exactly a year to go until that opening ceremony of the paris games. let's see how the asian markets are faring today. asian sharesjumped on tuesday as china's pledge to step up policy support for its...
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Jul 11, 2023
07/23
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that is boosting names like lvmh.o the close starts now. >> the countdown is on in europe. this is a bloomberg markets: european close with guy johnson and alix steel. ♪
that is boosting names like lvmh.o the close starts now. >> the countdown is on in europe. this is a bloomberg markets: european close with guy johnson and alix steel. ♪
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Jul 12, 2023
07/23
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said china is picking up, especially the chinese traveling to europe and other parts of the world lvmhing to offer us a second quarter read and how watches are faring. >> i want to go back to the watches for a second you mentioned prices were going down for some of the higher end brand. is that because people are wearing apple watches and digital watches? do you see a demand for the luxury watches they are beautiful, but they're still analogue. >> and they're expensive who's wearing the watches are the millennials and gen z. there are some offshore, sort of these iconic trophy watches. those prices more than tripled during the pandemic. they've come down a bit. but still when you go into a store and try to buy a new watch, whether it's from tag h heuer or others, they're hard to get. >> i love those watches. i admit. i wear a fitbit myself great to see you. >>> coming up on "worldwide exchange," your morning's global briefing and positive signals for microsoft over its activision deal over its regulators after that major s.u. decision "worldwide exchange" back in just a moment. hi, my
said china is picking up, especially the chinese traveling to europe and other parts of the world lvmhing to offer us a second quarter read and how watches are faring. >> i want to go back to the watches for a second you mentioned prices were going down for some of the higher end brand. is that because people are wearing apple watches and digital watches? do you see a demand for the luxury watches they are beautiful, but they're still analogue. >> and they're expensive who's wearing...
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Jul 24, 2023
07/23
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we have pretty pedestrian growth for lvmh in the u.s..have a beauty business, so both beauty brands but the all-important sophora as well, which is still doing quite well in the u.s. europe in the high teens, japan and the high 20's, asia in the mid-30's. to answer your question, i think the chinese and other nationalities are probably enough to mitigate the pain in the u.s. kailey: it is interesting, we were just having a conversation in the last hour about how stimulus coming from china is not necessarily going to be as robust as previously thought, certainly not a bazooka. how worried are you about the downside risks to the china story? erwan: i am worried another consumer verticals. i am worried on beverages, sporting goods for example. if you look at the total addressable market in luxury, it is still very small. some years ago, louis vuitton, the ceo was mentioning the addressable market was 15 million people and they were selling to 10% of those. 1.5 million dollars in china out of 1.4 billion population. these are wealthy individu
we have pretty pedestrian growth for lvmh in the u.s..have a beauty business, so both beauty brands but the all-important sophora as well, which is still doing quite well in the u.s. europe in the high teens, japan and the high 20's, asia in the mid-30's. to answer your question, i think the chinese and other nationalities are probably enough to mitigate the pain in the u.s. kailey: it is interesting, we were just having a conversation in the last hour about how stimulus coming from china is...
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Jul 7, 2023
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. >>> and the private equity firm backed by lvmh is considering options including a u.s. ipo for birkenstock. the sandalmaker could catch a value of $6 billion if it decides to go public it is working with goldman sachs and jpmorgan chase on a possible listing, frank >> interesting i thought the birkenstock era was over i thought people moved on. do you own a pair? >> several pairs >> fancy or the regular ones >> all different styles. i love them. they are comfortable they are great for traveling you can wear them all day. >> i didn't know there were different styles >> you have to look them up. >> silvana, thank you. >>> more to come here on "worldwide exchange," and the one word investors need to know today and janet yellen prepares for more face-to-face meetings in beijing. >>> the second half playbook and if tesla can stay atop the ev price wars >>> and shares of denim for levi is opening lower there is one concern in the market findut wre ohe that is when "worldwide exchange" returns >> announcer: this cnbc program is sponsored by ibm. i ibm. let's create analyze dat
. >>> and the private equity firm backed by lvmh is considering options including a u.s. ipo for birkenstock. the sandalmaker could catch a value of $6 billion if it decides to go public it is working with goldman sachs and jpmorgan chase on a possible listing, frank >> interesting i thought the birkenstock era was over i thought people moved on. do you own a pair? >> several pairs >> fancy or the regular ones >> all different styles. i love them. they are...
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Jul 26, 2023
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what is the entry price of a levy good for lvmh?om: the entry price is -- for example a tent tiffany's where they just spent a gazillion dollars for a display of audrey have -- hepburn's dress from "breakfast at tiffany's." there is a one floor, 412 or 418, i cannot remember, which is also over. it is like entry price. this is a big deal. we have to ask the question, or u.s. sales down because of a lack of chinese towards -- chinese tourists? we talked about this yesterday going into lvmh. this seems to be a soft spot for some players. lisa a: china was the soft spot. we have been blaming china for the potential slow debt in luxury sales but it is not. it is in the u.s.. i have been looking at bags. here is a t-1, $1260. this is not my purview. [laughter] tom: terry haynes knows they bulldozed -- this is west ford's theater where david rubenstein put so much into part of our national character there. they bulldozed six blocks of washington, d.c.. terry haynes knows who can make a circle from tiffany to gucci. that is the whole luxur
what is the entry price of a levy good for lvmh?om: the entry price is -- for example a tent tiffany's where they just spent a gazillion dollars for a display of audrey have -- hepburn's dress from "breakfast at tiffany's." there is a one floor, 412 or 418, i cannot remember, which is also over. it is like entry price. this is a big deal. we have to ask the question, or u.s. sales down because of a lack of chinese towards -- chinese tourists? we talked about this yesterday going into...
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Jul 17, 2023
07/23
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you like bunch of other names, louis vuitton, lvmh, boyd gaming.ey're in the red at the moment down around three% because china's economy and the gdp of china just missed expectations and they had been a big driver, all the newly wealthy people in china, big driver of purchases things like louis vuitton purses. tell me what you anticipate for that? is it a buy here because it is less expensive? >> now we're talking about our vice etf. it does own things like gaming and alcohol like you mentioned but louis vuitton is an interesting one. some people think we might be going into recession. we've been saying that for the last two or three years seems like, but luxury goods, whether it is higher end champagnes, higher end alcohols and of course handbags, shoes, perfumes, louis vuitton moet hennessey does that very well. they have both of best worlds and people that can afford luxury goods, luxury campaigns it is a little bit recession-proof, a little bit market proof. that is why we like it over big beer for instance. liz: okay. dan, great to have you.
you like bunch of other names, louis vuitton, lvmh, boyd gaming.ey're in the red at the moment down around three% because china's economy and the gdp of china just missed expectations and they had been a big driver, all the newly wealthy people in china, big driver of purchases things like louis vuitton purses. tell me what you anticipate for that? is it a buy here because it is less expensive? >> now we're talking about our vice etf. it does own things like gaming and alcohol like you...
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Jul 31, 2023
07/23
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we have to start with the headlines that go with the lvmh thing.ational shoppers are suffering. we're out of money. louis vuitton says look, we won't put anything on sale. the aspirational folks struggling, maybe finally see rich people, maybe not struggling but pulling back? >> how do you define rich is the question? charles: everyone with your kind of money and above. [laughter] >> exactly. with my private jet here. glad you noticed. that aspirational consumer, i might offend some folks here, versace, coach, michael kors, brands of this ilk they're great brands but not superior luxury brand like chanel, louis vuitton. the asperational is hurting. we talk about different tranche of consumers all the time. the higher end is a little bit annoyed with inflation and what not. it is still not affecting them. the aspirational consumer tapped out. charles: along that line, speaking of private jets, revenge travel, yolo revenge, you brought it to my attention two years ago. this morning maybe there are signs the travel boom has peaked maybe that underscor
we have to start with the headlines that go with the lvmh thing.ational shoppers are suffering. we're out of money. louis vuitton says look, we won't put anything on sale. the aspirational folks struggling, maybe finally see rich people, maybe not struggling but pulling back? >> how do you define rich is the question? charles: everyone with your kind of money and above. [laughter] >> exactly. with my private jet here. glad you noticed. that aspirational consumer, i might offend some...
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Jul 18, 2023
07/23
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lvmh down nearly 4% in turn. this morning we are not seeing the same sort of reaction.inting higher. -- most stocks pointing higher. we have just had stocks coming online in the last 15 minutes or so and we are seeing a slight move to the upside. >> still ahead what we learned from china evergrande long-delayed earnings report is aiming to resume stock trading and complete its restructuring. >> coming up, more from our conversation with treasury secretary janet yellen at the g20. we will be getting her views on china's trade practices and those tariffs that were triggered as a result. this is bloomberg. ♪ >> top u.s. chip executives are getting their chance to push back against washington curbs on dealing with china. ceos from intel, nvidia, and qualcomm joining a white house meeting with president biden's economic and security advisors. let's get more from stephen engle who has been following this out of hong kong. what do we know about this meeting? >> a lot of developments on the chip front-end export controls today. -- chip front and export controls today. this is a
lvmh down nearly 4% in turn. this morning we are not seeing the same sort of reaction.inting higher. -- most stocks pointing higher. we have just had stocks coming online in the last 15 minutes or so and we are seeing a slight move to the upside. >> still ahead what we learned from china evergrande long-delayed earnings report is aiming to resume stock trading and complete its restructuring. >> coming up, more from our conversation with treasury secretary janet yellen at the g20. we...
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Jul 26, 2023
07/23
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. >> lvmh caught my eye. >> u.s., bad, china, good. >> thank you lvmh, the giant luxury retailer that helped make bernard arnault very close to the richest man in the world -- >> depends on how x is doing >> not today, given a 5% decline in his ownership stake there what's funny, jim, is that a reflection of a top end of the u.s. consumer? they're not buying cognac anymore, apparently, and it was the u.s., not china, where we would have expected things would have been weaker, that contributed to a number that was not as good as expected. >> people are shying away from premiumization the other day, robert frank had a really fantastic piece, very, about the decline in high-end auctions really staggering. there is a high-end strike, which i have not been able to figure out why are the people who are really wealthy in this country not spending as they used to we don't have an analysis, but it's worth looking because what's keeping up spending is the lower end. our younger consumers. >> they also talk about, in the quarter, you know, it's the entry level buyer for a luxury item that may no
. >> lvmh caught my eye. >> u.s., bad, china, good. >> thank you lvmh, the giant luxury retailer that helped make bernard arnault very close to the richest man in the world -- >> depends on how x is doing >> not today, given a 5% decline in his ownership stake there what's funny, jim, is that a reflection of a top end of the u.s. consumer? they're not buying cognac anymore, apparently, and it was the u.s., not china, where we would have expected things would have...
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Jul 12, 2023
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cynthia littleton, variety >>> coming up, can lvmh take on rolex?the luxury watch market melissa has an apple watch on every day. do you change the band at least? >> once in a while, yeah, of course >>> and then taking on tiktok, senator cynthia lumis joins us to discuss her new bill that could address security concerns without a ban. >>> republicans are waging war on .s.e.c.'s policies. a big deteba on the policy future the two most important things in golf are your swing and your style. dick's sporting goods has everything you need to upgrade both. find top-rated drivers and irons from callaway, taylormade, titleist and ping. tour balls from your favorite brands. and the most dapper styles from travismathew and walter hagen to calia and lady hagen. you handsome devil. select the best golf shoes like footjoy, nike and more. and get back on the course with one-hour pick up. look good and play great with gear from dick's sporting goods. hi, i'm katie. i live in flagstaff, arizona. i'm an older student. i'm getting my doctorate in clinical psychology.
cynthia littleton, variety >>> coming up, can lvmh take on rolex?the luxury watch market melissa has an apple watch on every day. do you change the band at least? >> once in a while, yeah, of course >>> and then taking on tiktok, senator cynthia lumis joins us to discuss her new bill that could address security concerns without a ban. >>> republicans are waging war on .s.e.c.'s policies. a big deteba on the policy future the two most important things in golf are...
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Jul 6, 2023
07/23
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alix: or if you bought lvmh on that expectation.ou very much, this is bloomberg. ♪ oh booking.com, ♪ i'm going to somewhere, anywhere. ♪ ♪ a beach house, a treehouse, ♪ ♪ honestly i don't care ♪ find the perfect vacation rental for you booking.com, booking. yeah. alix: stocks trading heavy but i'm surprised they haven't gotten worse. the nasdaq is off by 1.5%. >> it almost begs the question if we will see stocks recover as the day goes on. we do have losses heavy right now. the worst day in two months for the s&p 500 having a lot to do with yields surging. the 10 year yield up 14 basis points. the adp report came out hot. the two year yield above 5%. the vix has a 16 handle. still low, but let's look at this chart. there is a range basically between 20 and 30. the vix is starting to break out of this congestion pattern that suggests it could go back higher above 20 into the range maybe even toward 30. if that would happen, it might be accompanied by a more serious selloff. the individual stocks that are selling off, amazon and tesla
alix: or if you bought lvmh on that expectation.ou very much, this is bloomberg. ♪ oh booking.com, ♪ i'm going to somewhere, anywhere. ♪ ♪ a beach house, a treehouse, ♪ ♪ honestly i don't care ♪ find the perfect vacation rental for you booking.com, booking. yeah. alix: stocks trading heavy but i'm surprised they haven't gotten worse. the nasdaq is off by 1.5%. >> it almost begs the question if we will see stocks recover as the day goes on. we do have losses heavy right now....
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Jul 27, 2023
07/23
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interior design practice moreysmith which has designed the headquarters for companies including red bull, lvmhect level of noise in an office and how is it achieved? morning. we are all very different. anyone who has worked in an office advisor meant knows some people a bit and some people love it cold and some people love it cold and it is the same with sound. people respond to different things, different personality types. some like to be in a buzzy, lively environment and others enjoy more the quiet concentration, so to be able to design the best offices to give choice to people. the office landscape has changed so much, it is notjust people sat in offices at desks, it is different now. people move around the office landscape and you have different environments you have different environments you can go into if it becomes too noisy, we have library environments. we also include a high ratio open plan of phone booths and quieter environments. people over the last four years have adapted their work styles, working from home for such a long time, some people is working still from home, and to
interior design practice moreysmith which has designed the headquarters for companies including red bull, lvmhect level of noise in an office and how is it achieved? morning. we are all very different. anyone who has worked in an office advisor meant knows some people a bit and some people love it cold and some people love it cold and it is the same with sound. people respond to different things, different personality types. some like to be in a buzzy, lively environment and others enjoy more...
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Jul 17, 2023
07/23
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hermes and lvmh down 4% pulling down the french index.manna, thank you >>> turning attention to tech. microsoft and sony signing a ten-year deal to keep call of duty on playstation. that is alleviating the issues after the close of the $69 billion deal for activision-blizzard. this comes after the judge denied the bid by the ftc to delay the deal there is one regulattor in its path which extended the deadline to review the deal joining me to discuss is alex kantrowitz good morning, alex >> good morning, frank >> what is your take on this deal we have seen a lot of twists and turns with the deal, including the last-minute bid by the ftc to brlock it. who knew "call of duty" would mean so much with the deal this size >> this is absolutely going through right now. the cma was watching the u.s. and ftc to see if it would have success here and it will stand with the ftc and say we will no let it good through. the ftc is out of the picture. this seems it will accelerate the deal to go through. >> you are feeling positive about that what does it
hermes and lvmh down 4% pulling down the french index.manna, thank you >>> turning attention to tech. microsoft and sony signing a ten-year deal to keep call of duty on playstation. that is alleviating the issues after the close of the $69 billion deal for activision-blizzard. this comes after the judge denied the bid by the ftc to delay the deal there is one regulattor in its path which extended the deadline to review the deal joining me to discuss is alex kantrowitz good morning,...
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Jul 19, 2023
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sara: the pinot family really took on lvmh in the late 1990's when they took over gucci and started told out the brand. they have come to be an aggressive rival. the luxury market is also limited, not as big as other sectors. they will have to be really creative. we are seeing others go after the caa, actors and sports management company but that is a different sphere that managing and expanding a multi-brand luxury group. matt: what do we know about the new creative director named at the beginning of the year at gucci? he is italian, from valentino. we have not seen his collection yet. sara: he's a very talented designer, strong run at valentino. he brings that vision of a sophisticated, yet modern, luxury brand. important to understand the icon, trademark products that are part of gucci's history but also have a feel for the modern consumer, what people want today from these luxury brands. the key thing is what i said at the beginning of our conversation. it is really about the pairing. they have put francois, and internal manager in charge of the brand, but the next talent scout the
sara: the pinot family really took on lvmh in the late 1990's when they took over gucci and started told out the brand. they have come to be an aggressive rival. the luxury market is also limited, not as big as other sectors. they will have to be really creative. we are seeing others go after the caa, actors and sports management company but that is a different sphere that managing and expanding a multi-brand luxury group. matt: what do we know about the new creative director named at the...
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Jul 21, 2023
07/23
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earlier this week we had the ceo of a well-known champagne brand under lvmh telling me how he feels likehave gone up too much, and maybe it is time for his company and others to bring them down. >> my personal intuition is one we look at the signals not only in africa but the rest of the world, there has been a lot, and may be some point we have to posit a little bit -- we have to pause a little bit. many companies have to think about a way to collectively work on making inflation slower in the future. i feel responsible in a way, and i believe we will be more reasonable, less ambitious in the next price increase in the future. >> we are seeing that sentiment echoed in south africa. we saw a lot of canyons feeling the pinch -- a lot of kenyans feeling the pinch taking to the streets because of the cost of living. it is still an issue here on the continent. dani: thank you. stay with us. an exclusive interview coming up with sarah cardell at 10:40 london time. up next, "markets today." this is bloomberg. ♪ bridgett is here. she has no clue that i'm here. she has no clue who's in the helme
earlier this week we had the ceo of a well-known champagne brand under lvmh telling me how he feels likehave gone up too much, and maybe it is time for his company and others to bring them down. >> my personal intuition is one we look at the signals not only in africa but the rest of the world, there has been a lot, and may be some point we have to posit a little bit -- we have to pause a little bit. many companies have to think about a way to collectively work on making inflation slower...
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Jul 7, 2023
07/23
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the lvmh-backed firm is said to be working with advisors such as goldman sachs on a potential u.s.. i want to talk more about both of those deals because even though we have news from worldpay and birkenstock, more broadly it has been a slow year with the backdrop of high inflation and rapidly rising interest rates. many companies are looking at portfolios and trying to simple fiber structure, raise capital, -- simplify their structure, raise capital and reduce debt. manuel, great to have you with me on a friday to talk about the deals of the week. let's talk about what could potentially be the biggest buyout financing since twitter last year, worldpay. >> definitely, lizzy, thank you for having me on the show. a very slow year for m&a and ipo's in europe. we have been busy the last couple of weeks, particularly some of the deals you mentioned are really exciting. also big in size. now it is we're seeing small deals being announced. financing is a big issue. we're seeing deals like the finance one worldpay involving private equity firms which have been very quiet the last several m
the lvmh-backed firm is said to be working with advisors such as goldman sachs on a potential u.s.. i want to talk more about both of those deals because even though we have news from worldpay and birkenstock, more broadly it has been a slow year with the backdrop of high inflation and rapidly rising interest rates. many companies are looking at portfolios and trying to simple fiber structure, raise capital, -- simplify their structure, raise capital and reduce debt. manuel, great to have you...
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Jul 21, 2023
07/23
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tuesday, lvmh and unilever.nking stray with deutsche bank, unicredit, and big banks out of europe. is the story going to be different than what we have seen this week. thursday is the ecb decision. wednesday is the fed. friday is the boj. what language are we going to see from christine lagarde? talking about maybe not getting a rate hike. friday, you have numbers from iag, astra, and sanofi. a lot in terms of the european corporate picture. it will be a fascinating. this sunday, we kick off with the spanish snap election. what are we going to see? kailey: let's pose that question to our next guest, director of the center for political economy. he was a member of the spanish parliament. what result are you expecting sunday? tony: the polls are quite clear that we will have a change in government. there is a 60% to 70% probability that we will move from a socialist, far left government we have now towards a right government. the question is whether we will have a far right government for the first time since more
tuesday, lvmh and unilever.nking stray with deutsche bank, unicredit, and big banks out of europe. is the story going to be different than what we have seen this week. thursday is the ecb decision. wednesday is the fed. friday is the boj. what language are we going to see from christine lagarde? talking about maybe not getting a rate hike. friday, you have numbers from iag, astra, and sanofi. a lot in terms of the european corporate picture. it will be a fascinating. this sunday, we kick off...
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Jul 7, 2023
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it is backed by lvmh. >>> coming up, leaders gather in france we will be joined by our team on the groundfter this break. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >>> welcome back to "street signs. i'm julianna tatelbaum and these are your headlines european equities follow asia and wall street into the red a dayafter the stoxx 600 notches the steepest one-day decline since march. >>> and thyssenkrupp debuts on the frankfurt stock exchange sending the shares higher in european trade we will hear from the ceo at 11:00 cet. >>> shell expects to book i impairments up to $3 billion in the second yquarter and flagging trade which is significantly lower than the period before. >>> and janet yellen traveling to china and saying the u.s. will fight
it is backed by lvmh. >>> coming up, leaders gather in france we will be joined by our team on the groundfter this break. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen,...
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Jul 17, 2023
07/23
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lvmh, the heavyweight. the european stock market is sagging. you can see that clearly today.t is partly china, partly the reach more numbers today. the chinese picture was not that bad. put this data together and get a poor performance from luxury out of europe today. kailey: not much poor performance on the part of u.s. stocks today, more broadly. gains are not that substantial. s&p 500 index up by .2%, trading at 4513. 10 year yield down less a basis point at 3.82. the dollar has been the story to watch. we are unchanged on the day, fractionally higher with the bloomberg dollar index trading around the 1200 level. coming off the worst week of the dollar since last november. has it been dethroned as king? that is something we will explore as we think about the fed's path. inflationary dynamics, russia has officially left a grain it deal with ukraine. could impact rings like wheat and corn. wheat futures spiked 4.2 percent on that news, interesting to see them lower now, down .7%. guy: interesting to see what happens with the price of inflation going forward. let's get back t
lvmh, the heavyweight. the european stock market is sagging. you can see that clearly today.t is partly china, partly the reach more numbers today. the chinese picture was not that bad. put this data together and get a poor performance from luxury out of europe today. kailey: not much poor performance on the part of u.s. stocks today, more broadly. gains are not that substantial. s&p 500 index up by .2%, trading at 4513. 10 year yield down less a basis point at 3.82. the dollar has been the...
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Jul 26, 2023
07/23
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its engines need to be removed from service taking a look at shares, down half a percent shares of lvmhlowdown in the u.s. division. and there's going to be a restructuring of ant group. >> and stellantis, the parent company of companies like dodge and peugeot, shares were up between january and june the shares up more than 2%. >>> getting you ready for the day ahead, another big day for earnings with results expected from at&t, boeing, coca-cola, and meta we get new home sales figures for june at 10:00 a.m. eastern and the big event of this day. we're talking the fed decision at 2:00 p.m. eastern followed by jay powell's news conference at 2:30 p.m. >>> rate decision and earnings reports front and center today and all of this week let's dive right into it with chief global investment strategist jeff, thanks for comiing on. >> thanks for having me. >> what's your expectation for the market day ahead >> you know, this could be one where we get a bunch of bumps in the road we've got a mix of earnings. some are good, some are bad after we saw yesterday at the close. they may try to strike
its engines need to be removed from service taking a look at shares, down half a percent shares of lvmhlowdown in the u.s. division. and there's going to be a restructuring of ant group. >> and stellantis, the parent company of companies like dodge and peugeot, shares were up between january and june the shares up more than 2%. >>> getting you ready for the day ahead, another big day for earnings with results expected from at&t, boeing, coca-cola, and meta we get new home...
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Jul 28, 2023
07/23
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we look to lvmh. they really liked in the u.s.. of course, they had a pricing power.need to go on a waitlist for a broken back, perhaps you will be able to keep sales going. in terms of the week ahead. it's another week of a lot of earnings. let's get through his those. we start the week with european data. we have some inflation data out of germany. and spain, this seems to have different stories. how it will play out for the cpi. hsbc earnings hit on tuesday. the shares move higher off the back of positive starter -- standard chartered earnings. also taylor wimpey. and then the big macro decision. they were left out of the central bank the loser, but the boe goes on thursday. right now, market pricing and 25 basis points of hikes, and finally, or bank earnings to end the week. commerce bank, credit, the story for most of them has been higher rates helping them out. >> let's get back to the data story since were going to get a lot more of this in europe read the chief economist at bmp is joining us now. obviously, we are coming off of the ecb decision. it could be pe
we look to lvmh. they really liked in the u.s.. of course, they had a pricing power.need to go on a waitlist for a broken back, perhaps you will be able to keep sales going. in terms of the week ahead. it's another week of a lot of earnings. let's get through his those. we start the week with european data. we have some inflation data out of germany. and spain, this seems to have different stories. how it will play out for the cpi. hsbc earnings hit on tuesday. the shares move higher off the...
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Jul 19, 2023
07/23
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shift last summer when lvhm and b burberry reported big gains in europe, mainly from american tourists lvmh 36% jump in the third quarter, compared to a 11% growth in the u.s. last year, the dollar was at parody with the dollar this year, the dollar is a bit weaker, so we're not going to see as many bargains on those louis vuitton bags or hermes sandals with an "h" on them that everyone seems to love this summer >> speaking of, robert, i wanted to throw out caring, the luxury maker in europe after they ousted the gucci ceo, the guy who was responsible for the whole brand refresh and the resurgence of the gucci brand, which has fallen steal i was curious about your reaction, because now there's some excitement that he's out. >> yeah, there's some excitement and some hope that maybe they can turn that brand around remember, you know, tom ford famously turned that brand around a long time ago, and in the past few years, it's been a tough slog forhem. d that's been wehing on caring's results and their growth now i think that shareholders yeah, huge part of that and that has been really left beh
shift last summer when lvhm and b burberry reported big gains in europe, mainly from american tourists lvmh 36% jump in the third quarter, compared to a 11% growth in the u.s. last year, the dollar was at parody with the dollar this year, the dollar is a bit weaker, so we're not going to see as many bargains on those louis vuitton bags or hermes sandals with an "h" on them that everyone seems to love this summer >> speaking of, robert, i wanted to throw out caring, the luxury...
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Jul 25, 2023
07/23
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shares of lvmh faltering in worries about a slowdown here in the states but will a rebound in asia, especially china, boost the bottom line in the months to come we'll debate that. i'm melissa lee, this is "fast money. full house here on the desk tonight. we start off with that big night of earnings. alphabet, snap, visa, and microsoft. we have an a-team of reporters ready to dive in kate rogers, kate rooney and steve kovach all on deck, but we start off with deirdre bosa. >> melissa, investors are cheer i ing. google's longtime ceo is taking on a new role as president and chief investment officer, includes external and internal responsibilities she'll be engaged with policymakers to recognize the importance of technology on the investment side, she'll cover infrastructure, data centers, efforts to expand in the india region as for why now, she said that she has been a cfo for 14 years, eight years at google, so, she said it was time for a new challenge. margins were a positive story this quarter better than expected operating leverage and less than a jump in terms of cap x that the street was
shares of lvmh faltering in worries about a slowdown here in the states but will a rebound in asia, especially china, boost the bottom line in the months to come we'll debate that. i'm melissa lee, this is "fast money. full house here on the desk tonight. we start off with that big night of earnings. alphabet, snap, visa, and microsoft. we have an a-team of reporters ready to dive in kate rogers, kate rooney and steve kovach all on deck, but we start off with deirdre bosa. >>...
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Jul 25, 2023
07/23
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but there are some real niceties there about the delineation of luxury that you have mentioned with lvmhnathan: weakness in america, which we've heard in the last couple of weeks. they are the bracelet with a nail. you get a nail for more money than god at home depot. i don't know how you get it onto your wrist. jonathan:. fashionable. it worked several years ago and you see people with the mole in their arm. it's a nail, you've described it. tom: yeah that it's something you use with a two by four. jonathan: i'm sure codey -- cartier loves this conversation. six days of euro weakness continues. -0.2% on euro-dollar. tech earnings ramping up with results from microsoft and alphabet after the bell and investors looking to see if the outlook for artificial intelligence can continue to justify a monster run up. you are familiar with gains but it's worth going over again. microsoft, year-to-date, alphabet and google, 30 8%. what a mover so far. tom: big moves and then you say that's the zeitgeist. i love how dan green pushed against that, i character of earnings that's in every sector of the
but there are some real niceties there about the delineation of luxury that you have mentioned with lvmhnathan: weakness in america, which we've heard in the last couple of weeks. they are the bracelet with a nail. you get a nail for more money than god at home depot. i don't know how you get it onto your wrist. jonathan:. fashionable. it worked several years ago and you see people with the mole in their arm. it's a nail, you've described it. tom: yeah that it's something you use with a two by...
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Jul 25, 2023
07/23
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also watching luxury names as well, given we did see the downside from lvmh u.s.ales upsetting the strength it had in asia. but of course, it is also geopolitical uncertainty at play. beijing's announcement that it has removed its foreign minister, doing little to answer the phone a mental questions over the downfall of one of xi jinping's handpicked investors. this is i guess a conclusion to what has been a month of mystery and uncertainty. it really poses more questions the -- than we have answers for. >> that is certainly true. although we do have a successor come if for the foreign minister position. why he was qin gang's predecessor we have not gotten a n explanation. we do not know what transpired. we may in the days or weeks get more information. if there were officials who were under investigation, and we have no indication that is what happened yet, but if there were in the past such officials, there have been announcements. if there was health reasons, we had the foreign minister earlier saying there was a physical condition that kept him from attending
also watching luxury names as well, given we did see the downside from lvmh u.s.ales upsetting the strength it had in asia. but of course, it is also geopolitical uncertainty at play. beijing's announcement that it has removed its foreign minister, doing little to answer the phone a mental questions over the downfall of one of xi jinping's handpicked investors. this is i guess a conclusion to what has been a month of mystery and uncertainty. it really poses more questions the -- than we have...
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Jul 27, 2023
07/23
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leaving the biggest lag, lvmh feeling the pain of a slowdown in u.s. consumer business.out the ecb. that is crucial where the euro heads from here. the messaging is going to be everything. we are expecting christine lagarde to have that optionality of a hike for september and potentially push back against any expectations of a rate cut. it looks like they will update more than that, potentially over passing hawkishness in the ecb at the moment in light of data that really shows anything from pmi's to germany's re haidi: we are in the thick of earnings season. more than 500 companies reporting across the world right now. take a look at nissan, now down 3.8% after third-quarter results that actually boosted their full year operating income forecasts and beat estimates. we saw sales volumes in china declining. cap con gaming -- capcom gaining more than 11% after profits beat estimates. macquaire group also hit on weak trading. samsung announcing their net profit of one point -1.55 trillion won beat estimates. weakness of the korean won also positive. reaffirming operating i
leaving the biggest lag, lvmh feeling the pain of a slowdown in u.s. consumer business.out the ecb. that is crucial where the euro heads from here. the messaging is going to be everything. we are expecting christine lagarde to have that optionality of a hike for september and potentially push back against any expectations of a rate cut. it looks like they will update more than that, potentially over passing hawkishness in the ecb at the moment in light of data that really shows anything from...
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Jul 10, 2023
07/23
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in china lvmh is one of our largest positions. alpha generator over the last months.hat segment of the consumers seem strong. they want to spend, travel. they are in a good position. i met with pizza hut and they're singers price sensitivity. haidi: it discounting a lot. mary: the china consumer needs to be careful because there is a difference between the ultra high end consumer and lower end consumer. kathleen: many investors have said no thank you, no china. i will look at the rest of asia. do you agree with that? mary: no, china is the second largest economy in the world and even a 5% growth rate will be the largest in the world in the future. you cannot just discount the whole thing but from our perspective we do not have direct exposure in china so we do not own tencent, alibaba, baidu any of those names. we have indirect exposure through multinational companies -- national companies. starbucks is a good example. for these multinational companies china is a huge market. nike is another example and you cannot ignore it so for now we are comfortable in terms of re
in china lvmh is one of our largest positions. alpha generator over the last months.hat segment of the consumers seem strong. they want to spend, travel. they are in a good position. i met with pizza hut and they're singers price sensitivity. haidi: it discounting a lot. mary: the china consumer needs to be careful because there is a difference between the ultra high end consumer and lower end consumer. kathleen: many investors have said no thank you, no china. i will look at the rest of asia....
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Jul 18, 2023
07/23
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i'm out -- they -- their work on lvmh, we will digress from the vet -- fed.d to talk about this and usually -- hugely qualified to pay attention to what the people at adobe are doing. this is a beautiful thing. he joins us this morning. on prime day, away from the math of this, what is the message you learned? chuck: i think the single biggest message is the target looks like it was a real disappointment on a year-over-year basis and when we compare visits to other retailers on a multi-year basis, they look like they disappointed so we are seeing some mean reversion for target on the sales front. lisa: as you look generally at retail sales following the retail print out of the u.s. government, there is the question on whether this is good deceleration in consumer spending or bet deceleration meeting they are running out of time to buy? which is it? chuck: i know the headline numbers are on a one year basis but if you compared to 2019, that you numbers look good. we are talking at a -- we track things across, close to 15 categories and every single category we
i'm out -- they -- their work on lvmh, we will digress from the vet -- fed.d to talk about this and usually -- hugely qualified to pay attention to what the people at adobe are doing. this is a beautiful thing. he joins us this morning. on prime day, away from the math of this, what is the message you learned? chuck: i think the single biggest message is the target looks like it was a real disappointment on a year-over-year basis and when we compare visits to other retailers on a multi-year...
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Jul 19, 2023
07/23
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. >> we have an lvmh model. they are moving weather goods in paris or something. >> this is mandeep singh world. it is nuts. >> it is more lucrative than that. i do want to end with a quick note on tesla because they are reporting earnings after the bell. we have seen disk cut and pricing over at ford. how much is the demand for ev as luxury vehicles at the price point. how much is that really coming off? >> everyone is thinking tesla is not just an ev maker, but there is in atomic driving element to this, that is what is driving valuation. generative ai is built around proprietary data and what you can do in terms of automation and stuff like that. tesla, to an extent was early in terms of thinking about that kind of model. whether that helps them roll out there software to the entire install date, that remains to be seen, but we know people are paid $15,000 for the software. if they can kind of expand that, that would be a huge high margin business for them. >> keep an formula one. not because of not ask, but
. >> we have an lvmh model. they are moving weather goods in paris or something. >> this is mandeep singh world. it is nuts. >> it is more lucrative than that. i do want to end with a quick note on tesla because they are reporting earnings after the bell. we have seen disk cut and pricing over at ford. how much is the demand for ev as luxury vehicles at the price point. how much is that really coming off? >> everyone is thinking tesla is not just an ev maker, but there...