MC Lvmh Moet Hennessy Louis Vuitton SE

By Mauro Orru

LVMH Moet Hennessy Louis Vuitton posted sales above analysts' forecasts for 2023, led by strong growth at its core fashion and leather-goods division, and said it had entered the new year with confidence.

The owner of the Louis Vuitton, Dior and Celine brands on Thursday reported sales of 86.15 billion euros ($93.79 billion) for 2023, up 13% on an organic basis from the previous year.

LVMH's fashion and leather-goods division contributed EUR42.17 billion to total revenue, with sales up 14% organically.

Selective retailing, the unit that houses Sephora, posted a 25% increase in revenue to EUR17.89 billion, while watches and jewelry and perfumes and cosmetics fared less well, with sales up 7% and 11% respectively. Wines and spirits is the only business unit that recorded lower sales, with a 4% contraction.

Net profit climbed to EUR15.17 billion from EUR14.08 billion in 2022, and the company said it would propose a dividend of EUR13 a share at its shareholders' meeting on April 18, up from EUR12 a share it paid the previous year.

Analysts had forecast annual sales of EUR85.74 billion and a EUR15.68 billion profit, according to FactSet.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

January 25, 2024 12:25 ET (17:25 GMT)

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