LVMH Sales Rise 14% in Third Quarter
October 09 2017 - 12:59PM
Dow Jones News
By Max Bernhard
French luxury conglomerate LVMH Moet Hennessy Louis Vuitton SE
(MC.FR) said Monday that third-quarter revenue rose 14%, boosted by
organic growth in all its business.
Revenue for the quarter was 10.38 billion euros ($12.18
billion), beating analyst expectations of EUR10.2 billion. Organic
sales adjusted for currency effects increased 12% compared with the
same period last year.
LVMH is regarded as an industry bellwether, with a portfolio of
dozens of luxury brands including Louis Vuitton, high-end
watchmaker Hublot and Hennessy Cognac.
Ahead of the data, analysts said they expected the company to
show solid growth despite the strength of the euro, which can
depress exports.
LVMH's fashion and leather goods division accounted for more
than a third of total sales, rising 27% to EUR3.94 billion after
the integration of Christian Dior Couture.
Wines and spirits was the only division not recording
double-digit growth, despite champagne sales being up 4%, with
particularly strong demand in Europe and Japan, the company
said.
Write to Max Bernhard at Max.Bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
October 09, 2017 12:44 ET (16:44 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Lvmh Moet Hennessy Louis... (EU:MC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Lvmh Moet Hennessy Louis... (EU:MC)
Historical Stock Chart
From Apr 2023 to Apr 2024
