LVMH Sales Rise 14% in Third Quarter

By Max Bernhard Features Dow Jones Newswires

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.

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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.

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Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

October 09, 2017 12:44 ET (16:44 GMT)