LVMH SALES INCREASE 2.3% IN 9 MONTHS

PARIS — With strong increases in luggage and leather goods, LVMH Moet Hennessy Louis Vuitton reported consolidated net sales for the first nine months of this year rose 2.3 percent to $4.18 billion (20.9 billion French francs), compared with the same period last year.
LVMH said Tuesday that the negative impact of currency fluctuations remained significant in the period and that on a constant currency basis, sales would have increased by 4.9 percent. In the third quarter alone, company sales rose by 6 percent, thanks in large part to the strong rebound in Louis Vuitton sales, which continued through October.
Net sales for perfumes and beauty products decreased 4.7 percent for the period to $1.22 billion (6.13 billion French francs) at the current exchange rate, against $1.28 billion (6.43 billion French francs) a year earlier. LVMH attributed this decrease to a campaign against gray market distribution, as the company explained when it reported its six-month results.
LVMH noted that its group of businesses it lists as “other activities” saw a loss of 7 percent to $296 million (1.48 billion French francs) from $318 million (1.59 billion French francs) last year. The grouping includes the fashion operations of Christian Lacroix, Givenchy and Kenzo, among other businesses. The company did not break out information by brand.

load comments
blog comments powered by Disqus