LVMH Moet Hennessy Louis Vuitton Sales Rise 5%
February 02 2016 - 12:54PM
Dow Jones News
By Jason Chow
PARIS--LVMH Moet Hennessy Louis Vuitton SE (LVMUY) said Tuesday
its fourth-quarter sales rose 5% to 10.38 billion euros ($11.33
billion) as the French luxury-goods conglomerate showed signs of
resilience through weak global economic growth and the Nov. 13
terrorist attack in Paris that upset tourist flows to the shopping
hub.
The company also said its full-year 2015 profit declined 37% to
EUR3.57 billion. The drop was expected as the 2014 net income
figure was boosted by a one-time sale of its stake in smaller
luxury rival Hermes International SA.
Stripping out the effect of the sale, profit grew 20% as a
weaker euro and strong tourist spending boosted sales of its
flagship fashion brand.
Write to Jason Chow at jason.chow@wsj.com
(END) Dow Jones Newswires
February 02, 2016 12:39 ET (17:39 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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