Porsche (POAHY) will be profitable in 2011. The WSJ reports, “Porsche’s core sports car operation continued to reap rich, precrisis profit margins. In the fiscal year, Porsche’s operating profit was €1.19 billion. Revenue rose 18% to €7.79 billion from the year before, fueled by an 8.8% rise in car sales to 81,850 vehicles.” Apparently, people with a lot of disposable income are less concerned about a double-dip.
LVMH (LVMUY) third quarter sales leaped 23%. Rachel Zoe must be affecting someone. Moët Hennessy and Louis Vuitton are back in vogue. LVMH retail was up 24%. Louis Vuitton fashion and leather goods were up 26%. Watches and jewelry were up 31%. Wine and spirits were up 24%
Burberry (BURBY) sold more this quarter too. If you don’t have the Burberry pattern on your coat or leather goods, you’re out of fashion. The British luxury brand sold 11% more stuff this quarter and is exploding in China. Better get used to red, black and camel plaid.
There’s a recession. But not everyone is living in it.