LVMH published mixed results for H1 23. The stronger-than-expected recovery of Chinese demand for leather goods have offset the decline in the cognac business mainly in the US.
However, the normalised promotional actions for Cognac in the US and higher A&P spending for the leather goods business have weighed on profitability during the first half.
Although the weakening consumer environment in the US is likely to continue, LVMH confirms that the margins for FY23 will be at least the same as i ....
