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LVMH 3Q Sales Rose at Steady Pace

   By Joshua Kirby 
 

LVMH Moet Hennessy Louis Vuitton SE's third-quarter sales rose at the same rate seen earlier in the year, driven by Asia and the United States.

Sales for the three months to the end of September came to 15.51 billion euros ($17.92 billion), 11% higher than in the same period of pre-pandemic 2019, the French luxury-goods group said Tuesday. The increase is the same booked in the first half of the year.

Analysts had expected sales of EUR15.38 billion, according to a FactSet-compiled consensus.

The group's sharpest growth once more came from the fashion & leather-goods division, which houses star brands Dior and Louis Vuitton. The division notched up sales of EUR7.5 billion, 38% higher than in the third quarter of 2019, again the same increase seen in the first half of the year.

Sales in the period in Asia and the U.S. continued to see double-digit growth compared with 2019, LVMH said.

Looking ahead, the company said it expects to see growth rates continue as the world gradually emerges from the coronavirus pandemic.

 

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

 

(END) Dow Jones Newswires

October 12, 2021 12:14 ET (16:14 GMT)

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