Christian Dior Couture Sales Decline 3.4% in 3rd Quarter
PARIS — Hurt by the August heatwave and a lack of tourists in Paris, Christian Dior Couture saw its third-quarter sales slip 3.4 percent to $164 million. For the nine months ended Sept. 30, however, sales were up 4.4 percent to $438.6...
PARIS — Hurt by the August heatwave and a lack of tourists in Paris, Christian Dior Couture saw its third-quarter sales slip 3.4 percent to $164 million. For the nine months ended Sept. 30, however, sales were up 4.4 percent to $438.6 million.
Dollar figures are converted from euros at current exchange. The firm reported nine-month sales of 377 million euros versus 361 million euros a year ago.
Dior president Sidney Toledano said organic growth stood at 5 percent in the quarter and that business in Paris had picked up in September. At constant exchange, sales at Dior’s retail network in Europe advanced 16 percent last month, he said.
But Toledano described August results in Paris as “really bad” and noted that Dior had a difficult basis of comparison, since Dior sales advanced 49 percent in the year-ago quarter.
Christian Dior Couture comprises the couture, women’s and men’s ready-to-wear and accessories businesses, plus its retail network. Toledano forecast double-digit organic growth for Dior in the fourth quarter, and said sales would be aided by the opening of units in Tokyo, Las Vegas, Palm Beach, Fla., and others before the end of the year.
Dior reports sales and profits separately, but Toledano said the “bottom line was good at the end of September” and he forecast a “significant improvement in profitability” for the year due to tight cost controls.
Consolidated sales at Christian Dior SA, holding company for LVMH Moët Hennessy Louis Vuitton and the Dior fashion house, totaled $9.93 billion in the nine months, down 7.2 percent from $10.7 billion a year ago. Organic sales were 3 percent, in line with results that LVMH disclosed earlier this week.
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