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LVMH, the world's biggest luxury group, posted improved sales growth for the third quarter on October 14 as stronger trading in Europe and the United States helped make up for weakness in Asia.
The Paris-based group, which owns leather goods maker Louis Vuitton and Hennessy cognac, said comparable sales growth reached 4% in the three months to September 30, in line with analysts' expectations.
This compared with 3% growth in the previous quarter and 6% in the first three months of the year.
LVMH pointed to an uncertain economic and financial environment but did not give a full-year financial target. Nor did it provide quarterly organic growth rates by division.
One analyst said that the quarter confirms a lukewarm trading environment, in which reduced Chinese consumer sentiment seems to be taking a toll on key divisions such as fashion and leather, and wine and spirits.
Like-for-like sales growth at LVMH's fashion and leather division, its biggest, reached 3% in the nine months to September 30, compared with 4% in the first half.comments powered by Disqus