10 Apr '14, 10am

Handbag and fashion sales help cushion drop in cognac and alcohol revenue at LVMH

Handbag and fashion sales help cushion drop in cognac and alcohol revenue at LVMH

LVMH Moet Hennessy Louis Vuitton SA , the world’s largest luxury goods company, reported its fastest fashion and leather-goods revenue growth in two years, cushioning an unexpected decline in quarterly alcohol sales. First-quarter fashion and leather-goods sales climbed 9 percent on an organic basis, Paris-based LVMH said today in a statement after European markets closed. That was the fastest growth since the first quarter of 2012 and compared with a 3 percent increase in the same period last year. Analysts predicted a 6 percent sales gain. LVMH is introducing more expensive products at handbag maker Louis Vuitton, while increasing investment at some of its smaller fashion brands amid competition from lower-priced labels such as Michael Kors and Coach Inc. Italian rival Prada SpA last week forecast slowing same-store sales growth in the financial year through January 2015...

Full article: http://www.bloomberg.com/news/2014-04-09/lvmh-sales-trail...

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