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Angelina RascouetFortune |
The Asia Pacific and Americas regions performed the worst for Burberry last quarter, with sales sliding by 17% and 12% respectively.
Sales jumped to $4.1 billion in the first quarter, and shares rose as much as 1.3%, beating LVMH Moet Hennessy Louis Vuitton SE and Gucci owner Kering...
Kering warned that recurring operating income will drop between 40% and 45% in the first six months of this year.
The deal represents “the single largest asset sale in the Italian real estate market”.
Stephane Bianchi, the current head of LVMH’s watches and jewelry unit, will succeed him.
Arnault, the world's third wealthiest person, owns about 48% of LVMH shares along with his family, and nearly 64% of voting rights.
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