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LVMH Moët Hennessy Louis Vuitton said its jewelry and watches division recorded organic revenue growth of 7 percent in its first quarter, led by a strong performance from Bulgari.
CEO Mark Light called it “an excellent finish to another strong year” for the retailer, aided by strong diamond fashion jewelry sales in the fourth quarter.
Due to lower foreign spending and softness in sales to U.S. consumers, same-store sales and total sales decreased in the company’s Americas regions in both the fiscal fourth quarter and the full-year period.
The retailer released preliminary figures nearly a month ahead of its scheduled earnings call because it was “excited” about its Q4 results.
These two retailers reported some of the strongest year-end sales in retail, while competitors Macy’s and Kohl’s struggled.
The French company, which owns Boucheron and Ulysse Nardin, said jewelry did well while its watch brands struggled in 2015.
The announcement comes as the e-tailer reports “disappointing” fourth quarter results, with U.S. engagement ring sales slipping nearly 8 percent.
The fourth-quarter cut brings the year-end total to 529 unbranded doors closed in the Americas, most of which were located in the United States.
National Jeweler

Fine Jewelry Industry News

Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter and quarterly digital magazine. National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.
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