LVMH's 9-Mo Revenue Rises 4%,Powered By Perfumes And Cosmetics
October 10 2016 - 12:04PM
Dow Jones News
By Manuela Mesco
MILAN--LVMH Moet Hennessy Louis Vuitton's (LVMUY) nine-month
revenue rose 4% compared with the same period last year, boosted by
its Asian market and its perfumes business
But the French luxury giant's core fashion unit flagged.
LVMH, a bellwether for the industry, said Monday its revenue
totaled EUR26.3 billion in the first nine months of the year. Its
fashion-and-luxury-goods division--which includes Louis Vuitton,
Celine and Christian Dior--grew only 1% on the period, while its
wine-and-spirits business--which includes Veuve Clicquot and
Chandon--posted a 5% revenue growth.
Perfumes and cosmetics were the strongest division in the
period, growing 6% on the year, the company said.
LVMH offered a positive outlook for its U.S. and European
markets, with the exception of France, which continues to suffer
from a decline in tourism following terror attacks.
(END) Dow Jones Newswires
October 10, 2016 12:49 ET (16:49 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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