LVMH 1Q Revenue Rose on Strong Sales in Fashion & Leather Goods
09 Aprile 2018 - 6:32PM
Dow Jones News
By Euan Conley
French luxury-goods conglomerate LVMH Moet Hennessy Louis
Vuitton SE (MC.FR) said Monday that its revenue rose 10% in the
first quarter of 2018, fueled by soaring sales in its core fashion
and leather goods division.
Revenue for the quarter stood at 10.85 billion euros ($13.32
billion), beating analysts' expectations of EUR10.5 billion,
according to a consensus provided by Factset.
Adjusting for currency effects, that was a 13% increase compared
with the same period a year ago.
The company's fashion and leather goods division, which includes
its flagship Louis Vuitton brand, led the way, with sales rising
25% to EUR4.27 billion.
LVMH attributed the increase to a "remarkable start" to the year
for Louis Vuitton, driven by a strong performance across all of its
businesses.
The maker of Hennessy cognac and Tag Heuer watches said there
was good growth across its Asia, U.S. and Europe markets, and that
it will continue to maintain tight controls over costs.
Write to Euan Conley at euan.conley@dowjones.com
(END) Dow Jones Newswires
April 09, 2018 12:17 ET (16:17 GMT)
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