floortok

Retail Earnings

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← Global luxury groups

LVMH

Global luxury groups · MC.PA

The Japan read

From the company's own filing for 9M 2026 (Jan–Sep) · revenue only · reported 2026-10-12 · the filing

Other callouts in the filing

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.

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floortok holds 2 reported periods for this company.

Quarter-alone and year-to-date rows are floortok's arithmetic on the company's own filings — the quarter alone under a cumulative filing, the year to date under a quarter — shown only where the filings they need are on file. A period tagged Year-to-Date runs from the start of the company's fiscal year.

9M 2026 (Jan–Sep) · revenue only · Year-to-Date

Reported 2026-10-12revenue only
Revenue€57.1bn−2.0%
Operating profit——
Net income——
Q3 alone (Jul–Sep 2026)
Revenue€18.5bn—
Operating profit——
Net income——

LVMH's nine-month revenue was €57.1bn, up 2% organically but down 2% as reported after a three-point currency drag. Growth slowed to 1% in the third quarter as China cooled, while LVMH said Japan, the US and Europe grew well; Fashion & Leather Goods fell 5% in the quarter. A revenue-only update: profit comes with the full year.

H1 2026 (to June) · Year-to-Date

Reported 2026-07-27
Revenue€38.6bn−3.0%
Profit from recurring ops€8.7bn−4.0%
Net income€5.7bn0.0%

Japan+5.0%Excludes currency swings and businesses bought or sold. Down 3% in Jan–Mar, up 14% in Apr–Jun.

The world's largest luxury group grew organic revenue 2% in the first half (and 3% in the second quarter), but a strong euro pulled reported revenue down 3% and recurring profit down 4%. Japan posted growth for the half, and Watches & Jewellery (+9%) and its retail arm led; net profit held flat at €5.7bn.

  • JapanJapan revenue grew 5% organically in the half, swinging from −3% in Q1 to +14% in Q2, after a 15% organic fall in H1 2025 (−28% in Q2 2025).
  • StoresDior's store-network highlights for the half included two major openings in Japan: the Bamboo Pavilion in Tokyo and a new House of Dior in Osaka with a Sou Fujimoto façade.
  • StoresAs part of exiting DFS, LVMH sold DFS's Japan partnership stakes and in June signed a deal to sell DFS Okinawa to Avolta, with completion planned for the second half of 2026.
  • StoresLVMH ran 511 stores in Japan at end-June 2026, nine fewer than at end-2025 (520) and three more than a year earlier (508).
  • BasisIn euros, Japan sales fell to €2,987m from €3,249m, about −8% (floortok's arithmetic); the weaker yen was among currencies that cut five points from group growth. Japan stayed at 8% of sales.
  • SegmentJapan matters most to Watches & Jewelry, at 13% of that business's sales, versus 10% for Fashion & Leather Goods (down from 11%) and 5% for Perfumes & Cosmetics.