Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Vuitton owner LVMH shrugs off Hong Kong hit with third quarter sales beat

Vuitton owner LVMH shrugs off Hong Kong hit with third quarter sales beat
FILE PHOTO: Louis Vuitton handbags are displayed as an employee works in a Vuitton new high-end garment factory in Beaulieu-sur-Layon, near Angers, France, September 5, 2019. REUTERS/Stephane Mahe -
Copyright
Stephane Mahe(Reuters)
Euronews logo
Text size Aa Aa

PARIS (Reuters) – Louis Vuitton owner LVMH <LVMH.PA> on Wednesday reported higher-than-expected revenue growth for the third quarter, in spite of months of unrest in Hong Kong that have put off tourists and forced luxury goods labels to shut stores.

The French group – which owns fashion brands like Christian Dior as well as champagne labels like Veuve Cliquot – said sales were up 17% to 13.3 billion euros in the July to September period. They rose 11% on a comparable basis, stripping out currency swings and acquisitions.

Analysts had expected LVMH to post comparable sales growth of closer to 9%, even as it made up for lost sales in Hong Kong with strong sales in mainland China and other markets.

(Reporting by Sarah White)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.