As the latest US earnings season picks up, one famed luxury good company has caught attention for all the wrong reasons.

LVMH's earnings report left investors disappointed, with its key Fashion & Leather Goods division seeing a 5 percent revenue drop this quarter.

Milford Asset Management's Stephanie Batchelor explains what's causing this drop.

LISTEN ABOVE

As the latest US earnings season picks up, one famed luxury good company has caught attention for all the wrong reasons.
LVMH's earnings report left investors disappointed, with its key Fashion &amp; Leather Goods division seeing a 5 percent revenue drop this quarter.
Milford Asset Management's Stephanie Batchelor explains what's causing this drop.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Stephanie Batchelor: Milford Asset Management analyst on LVMH's shares dropping

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d5bc5198-064a-4bb6-b1d3-b2120075b180/transcript

Now let's talk about Nick Kyrgios' punishment. He's been banned from playing professional tennis for a month after being busted with cocaine in his system.

His punishment is very much at the low end of the scale. He was facing a ban of up to four years. It was downgraded, firstly, because he was using cocaine recreationally.

He snorted a few lines the night before he was due to play in Mallorca. He wasn't using it immediately before the match to enhance his performance and that's a material distinction. That reduced the potential suspension to three months.

Then, secondly, it was cut to a month because he agreed to enter rehab.

Now, I don't want to be sticking up for Nick Kyrgios because the guy's a clown but I think this is a case of doping laws backfiring. The people at WADA do not have to punish Nick Kyrgios, or any other athlete, for using drugs recreationally. It doesn't actually improve their performance on the court, the track, the field or wherever they compete.

They choose to punish athletes for recreational drug use because, they argue, it tarnishes the clean image of sport.

Now ask yourself this question: how has Nick Kyrgios' love of the nose candy tarnished the clean image of tennis?

Is it because we know he used cocaine the night before? Yes. And how do we know that he used cocaine the night before? Because the doping authorities told us. That's the only reason we know.

If they had conducted the test and, as they say, found only a low level of cocaine, which they admit was consistent with partying the night before rather than taking it immediately before the test, then surely the smarter strategy would have been to declare it below the required threshold and move on.

That way, nobody would know that Nick had used cocaine and Nick would not need to be punished for doing so.

It's silly, isn't it? To punish an athlete for what he does in his free time when it has no impact whatsoever on his performance on the court. If anything, you'd think it would make him play worse because he's feeling a bit rough.

I've always found this kind of moralising disappointing. But when it creates an own goal like this, I think it's even worse.

LISTEN ABOVE

Now let's talk about Nick Kyrgios' punishment. He's been banned from playing professional tennis for a month after being busted with cocaine in his system.
His punishment is very much at the low end of the scale. He was facing a ban of up to four years. It was downgraded, firstly, because he was using cocaine recreationally.
He snorted a few lines the night before he was due to play in Mallorca. He wasn't using it immediately before the match to enhance his performance and that's a material distinction. That reduced the potential suspension to three months.
Then, secondly, it was cut to a month because he agreed to enter rehab.
Now, I don't want to be sticking up for Nick Kyrgios because the guy's a clown but I think this is a case of doping laws backfiring. The people at WADA do not have to punish Nick Kyrgios, or any other athlete, for using drugs recreationally. It doesn't actually improve their performance on the court, the track, the field or wherever they compete.
They choose to punish athletes for recreational drug use because, they argue, it tarnishes the clean image of sport.
Now ask yourself this question: how has Nick Kyrgios' love of the nose candy tarnished the clean image of tennis?
Is it because we know he used cocaine the night before? Yes. And how do we know that he used cocaine the night before? Because the doping authorities told us. That's the only reason we know.
If they had conducted the test and, as they say, found only a low level of cocaine, which they admit was consistent with partying the night before rather than taking it immediately before the test, then surely the smarter strategy would have been to declare it below the required threshold and move on.
That way, nobody would know that Nick had used cocaine and Nick would not need to be punished for doing so.
It's silly, isn't it? To punish an athlete for what he does in his free time when it has no impact whatsoever on his performance on the court. If anything, you'd think it would make him play worse because he's feeling a bit rough.
I've always found this kind of moralising disappointing. But when it creates an own goal like this, I think it's even worse.
LISTEN ABOVE

Perspective with Heather du Plessis-Allan: Was WADA right to punish Nick Kyrgios here?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/83be26f3-4b18-45d0-a9d2-b4bc01690dbf/transcript

On the Heather du Plessis-Allan Drive Full Show Podcast for Friday, 4 September, 2026, two psychiatrists get permission to use a party drug to treat trauma. We speak to one of them - Dr G.

The Privacy Commissioner on retailers putting up walls of shame of suspected shoplifters.

Sav's saucy selfie - plus more from the veteran rugby man's travels in South Africa.

And on the Sports Huddle, Adam Cooper and Nick Bewley tell us if they reckon All Blacks' pack really did need a big reshuffle for the third test.

Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

LISTEN ABOVE 

On the Heather du Plessis-Allan Drive Full Show Podcast for Friday, 4 September, 2026, two psychiatrists get permission to use a party drug to treat trauma. We speak to one of them - Dr G.
The Privacy Commissioner on retailers putting up walls of shame of suspected shoplifters.
Sav's saucy selfie - plus more from the veteran rugby man's travels in South Africa.
And on the Sports Huddle, Adam Cooper and Nick Bewley tell us if they reckon All Blacks' pack really did need a big reshuffle for the third test.
Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.
LISTEN ABOVE&nbsp;

Full Show Podcast: 04 September 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/4b0ac80d-52c6-4817-bbb1-b4bb0076be6a/transcript

The All Blacks return to Gauteng province for their third test against the Springboks at FNB Stadium in Soweto on Sunday at 3.10am. 

South Africa evened the score Cape Town last week adding extra pressure to this week's test. 

All Blacks senior assistant coach Neil Barnes told Heather du Plessis-Allan, "it's a hell of an occasion and the boys are in a good place, to be honest."

LISTEN ABOVE 

The All Blacks return to Gauteng province for their third test against the Springboks at FNB Stadium in Soweto on Sunday at 3.10am.&nbsp;
South Africa evened the score Cape Town last week adding extra pressure to this week's test.&nbsp;
All Blacks senior assistant coach Neil Barnes told Heather du Plessis-Allan, "it's a hell of an occasion and the boys are in a good place, to be honest."
LISTEN ABOVE&nbsp;

Neil Barnes: All Blacks senior assistant coach chats team before third Springboks test

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/8d7e0e0a-cc16-4d1e-a329-b4bb0075a4c6/transcript

Stephanie Batchelor: Milford Asset Management analyst on LVMH's shares dropping

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