LVMH 3Q Revenue Rose, Beating Analyst Estimates
October 09 2019 - 12:36PM
Dow Jones News
By Cristina Roca
Luxury-goods giant LVMH Moet Hennessy Louis Vuitton SE (MC.FR)
on Wednesday beat analysts' expectations for its third-quarter
revenue despite toughening conditions for luxury players.
The French conglomerate posted revenue of 13.32 billion euros
($14.61 billion) for the quarter, rising from EUR11.38 billion the
year previous and beating analysts' expectations of EUR12.81
billion, according to a consensus estimate provided by FactSet.
Revenue grew organically by 11%, LVMH said,
LVMH, which owns the Louis Vuitton, Dior, Bulgari and Hennessy
brands, said its Asian businesses made good progress despite the
disruption caused by protests in Hong Kong.
Fashion and leather goods remained the group's fastest-growing
division, growing organically by 19% in the quarter.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
October 09, 2019 12:21 ET (16:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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