LVMH Moet Hennessy Louis Vuitton SA, the maker of Celine handbags and TAG Heuer watches, sees no sign of a slowdown in demand for luxury goods after reporting first- half profit that beat analysts’ estimates.
PPR SA, the French owner of the Gucci luxury brand and online fashion retailer Redcats, reported first-half profit that beat analysts’ estimates and said it expects to achieve better results this year than last.
Bulgari SpA , the world’s third- largest jeweler, fell as much as 3.6 percent in Milan after reporting second-quarter profit that missed estimates and that it may not meet its full-year gross-margin forecast.
PPR SA, the owner of the Gucci brand, gained the most in about 18 months in Paris trading after third-quarter sales beat analysts’ estimates and the company said it sees no sign of a slowdown in demand for luxury goods.
China agreed to cut import tariffs on Swiss watches by 60 percent in 10 years as the two nations seek to expand trade, a move that may boost sales by retailers such as Hong Kong-based Hengdeli Holdings Ltd.