share in this article
The French luxury goods company said earnings were up 15.51 billion euros, 11 percent higher than in the same period before the 2019 pandemic. The growth is the same as that recorded in the first half of the year.
Analysts had expected sales of 15.38 billion euros, according to a consensus set by FactSet.
The group’s fashion and leather goods division, which includes renowned brands Dior and Louis Vuitton, once again posted the strongest growth. The division achieved sales of EUR 7.5 billion, a 38 percent increase compared to the third quarter of 2019 and thus a similar increase in the first half of the year. According to LVMH, sales in Asia and the United States continued to grow in double digits during this period compared to 2019.
The company expects further growth rates as the world slowly recovers from the coronavirus pandemic.
In Paris, shares of LVMH temporarily climbed 2.71 percent to 651.10 euros.
New York (Dow Jones)
LVMH Moet Hennessy Louis Vuitton SA . more news on
Image Source: Tupungato/Shutterstock.com
Reader. Organizer. General creator. Zombie fanatic. Alcohol advocate. Food junkie. Bacon ninja.