PARIS — Sales momentum at LVMH Moët Hennessy Louis Vuitton slowed to 2 percent in the first half, but the luxury giant still expects operating profits to advance 15 percent for the period.
Trumpeting the resilience of its major brands in a difficult economic environment and highlighting its now-effervescent wines and spirits division, LVMH said sales reached $5.89 billion in the half ended June 30, up from $5.75 billion a year ago. That represents a 4 percent increase based on constant exchange rates. In the second quarter, group sales fell 2.5 percent to $2.9 billion, down from $2.97 billion a year ago. Dollar figures are converted from euros at current exchange rates.
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