LVMH beats expectations with third-quarter 19% sales growth
2022.10.11 12:05
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© Reuters. FILE PHOTO: An exhibitor wears a LVMH t-shirt at their booth, at the Viva Technology conference dedicated to innovation and startups, at the Porte de Versailles exhibition center in Paris, France June 17, 2022. REUTERS/Benoit Tessier/File Photo
PARIS (Reuters) – French luxury goods giant LVMH beat market forecasts in the third quarter, posting a brisk rise in sales as wealthy shoppers continued to splash out on fashion, with an added boost from improved business in China as COVID-19 curbs eased up.
Sales at the world’s biggest luxury group came to 19.8 billion euros ($19.2 billion), up 19% on a comparable basis from a year earlier, beating analyst expectations for 13% growth according to a Visible Alpha consensus.
($1 = 1.0277 euros)
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