French Fashion Giant LVMH Posts 17% Sales Growth In Q1

  • French luxury fashion house LVMH-Moet Hennessy Louis Vuitton LVMHF LVMUY reported a first-quarter FY23 sales growth of 17% year-on-year to €21.04 billion. Organic revenue growth was 17%.
  • The owner of Louis Vuitton and Christian Dior fashion houses saw a 30% jump in the sales of Selective Retailing and an 18% growth in the Fashion & Leather Goods segment.
  • Also ReadFrench Fashion Giant LVMH Adopts €1.5B Share Buyback Program
  • The company said that Europe and Japan, which enjoyed strong growth momentum, benefited from robust demand from local customers and international travelers.
  • LVMH said it remains both vigilant and confident at the start of the year in an uncertain geopolitical and economic context.
  • Price Action: LVMHF shares are trading higher by 4.30% at $959.60 on the last check Wednesday.
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Posted In: EarningsNewsGeneralBriefsEurasia
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