Stock Market News
LVMH Q1 total revenue 18 billion euros vs yr ago 13.96 billion euros
2022.04.12 19:11
FILE PHOTO: A handbag manufactured at the Atelier Louis Vuitton is pictured during the inauguration in Vendome, France, February 22, 2022. REUTERS/Benoit Tessier/File Photo
PARIS (Reuters) – Strong demand for Louis Vuitton and Dior products helped lift first quarter sales at the world’s largest luxury goods conglomerate LVMH, showing the sector’s resilience despite geopolitical tensions and volatile stock markets.
LVMH said like-for-like sales, which strip out the effect of currency changes, rose by 23% in the three months to March to 18 billion euros.
The figure beat a consensus estimate for 18% growth, cited by Jefferies.
