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Vuitton parent LVMH posts solid Q3 sales amid China concerns

Vuitton parent LVMH posts solid Q3 sales amid China concerns
A woman with a Louis Vuitton-branded shopping bag looks towards the entrance of a branch store by LVMH Moet Hennessy Louis Vuitton in Vienna, Austria October 4, 2018. REUTERS/Lisi Niesner   -   Copyright  Lisi Niesner(Reuters)
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PARIS (Reuters) – Louis Vuitton owner LVMH <LVMH.PA> on Tuesday posted a 10 percent rise in comparable sales in the third quarter, in line with forecasts and setting an encouraging tone for luxury companies sensitive to any wavering in Chinese demand.

The world’s biggest luxury goods group, also home to fashion brand Christian Dior and cognac label Hennessy, said revenue in the July to September period came in at 11.4 billion euros ($13.09 billion), also up 10 percent on a reported basis.

LVMH, along with Paris-based rival Kering <PRTP.PA>, is one of the industry players that has best profited so far from a two-year-old sector recovery powered by appetite from Chinese consumers. ($1 = 0.8708 euros)

(Reporting by Sarah White and Pascale Denis, Editing by Dominique Vidalon)

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