The earnings included a charge of 5 cents a share related to the company's Little Switzerland stores, its chain of duty-free shops.
But LVMH said it was not yet prepared to dispose of the money-losing operations, notably its DFS chain of duty-free stores and its Sephora cosmetic outlets.
He is also looking to sell Sephora, a money-losing cosmetics retailer, and DFS, a chain of duty-free shops, executives close to the company said.
The company also owned the Safety Harbor Resort and Spa near Tampa, Fla.; the Ritz Hotel in Atlantic City; a chain of duty-free stores called the Ammex Group; and theme parks in Asia and Europe.
Among the new foundations that are committed to spending down all their assets is the Atlantic Philanthropies, which is built on the fortune of Charles Feeney, a founder of a chain of duty-free shops.
Mr. Feeney, who earned his fortune with a chain of duty-free shops, is known for his extraordinarily modest lifestyle and his many years of anonymously giving away hundreds of millions of dollars before he went public as a philanthropist in 1997.
It doesn't require a rocket scientist, only a recognition of reality". A legal fight, Mr. Millstein warned, could expose DFS's "dirty linen" and reveal the inner workings of the privately held and highly profitable chain of duty-free shops that the owners had labored so hard to shield from the public.
There is a comic portrait of a mother who insists she is a lapsed artist, and would get to "my studio" if only the chains of duty were looser.
A $200,000 donation from Meuchadim of Maine, LP, which listed an address in Hollywood, Fla., appears to be connected to Simon Falic, the chairman of Duty Free Americas, the chain of airport duty-free shops, who is a major pro-Israel donor.
A $200,000 donation from something called Meuchadim of Maine L.P., which actually listed an address in Hollywood, Fla., appears to be connected to Simon Falic, chairman of Duty Free Americas, the chain of airport duty-free shops, who is a major pro-Israel donor.
It could show you the individual, with private pressures, in public circumstances, and link one person to another through chains of obligation and duty.
