LVMH Q1 revenues drop amid coronavirus crisis

LVMH Moët Hennessy Louis Vuitton recorded revenue of 10.6 billion euros (11.5 billion dollars) for the first quarter of 2020, down 15 percent compared to the same period in 2019 and down 17 percent on an organic basis. The company said, the Fashion & Leather Goods business group recorded a decline in organic revenue of 10 percent or 9 percent reported to 4,643 million euros (5,045 million dollars) due to store closures in several regions around the world, while online sales saw rapid growth.