July is proving to be an excellent month for luxury

fashion companies, as their larger ambassadors have been beating analysts’ forecasts in a row. First was Burberry, now LVMH and Luxottica and other firms from the niche are to post forecast-beating figures, providing further evidence the luxury sector is shielded from economic concerns.

Alien to Burberry´s lifting start of the week, banks owned the session although, away from the financials, shares in Marks & Spencer retreated 5 to 359.2p as ING reiterated its “sell” rating on the high street retailer - citing expansion plans by its employee-owned rival John Lewis as its core reason. Direct competitor John Lewis has said it intends to increase the number of department stores it has across the UK and roll out a network of 20 Little Waitrose stores within the Greater London region.

In troubled Italy, Luxottica’s shares closed up 0.8 percent at 22.35 euros on Monday, outperforming Milan's blue-chip index, which closed down 2.5 percent. The luxury eyewear group beat the analysts’ consensus forecast, increasing its net profit by 8%, up to 162 million euros profit.

Still in Europe, now in Paris, LVMH raised its stake in smaller luxury rival Hermes to 21.4 percent from 20.2 percent, the world's biggest luxury group said on Tuesday as it posted first-half results above forecasts. "In the course of the semester, we increased our shareholding in Hermes," LVMH Finance Director Jean-Jacques Guiony told investors and journalists in a conference call. LVMH posted a 13 percent rise in revenue to 10.29 billion euros and a 22 percent increase in profit from recurring operations to 2.22 billion in the six months ended June 30.

Across the Atlantic, the trend did not differ that much as VF Corporation reported a net income attributable to the company of $129.37 million, or $1.17 per diluted share, for the second quarter ended June 2011, compared to $110.83 million, or $1.00 per diluted share, for the second quarter ended June 2010. The company anticipates earnings to increase approximately $7.50 per share in 2011, up from prior guidance for earnings of approximately $7.25 per share. Total revenues for the second quarter of 2011 were $1.84 billion, compared to $1.59 billion for the second quarter of 2010.




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