LVMH Sales Impacted by Terrorism in Paris

By Jason Chow 

PARIS -- LVMH Moët Hennessy Louis Vuitton SE's first-quarter revenue rose 4% as the French luxury conglomerate scraped growth amid a feeble global economic environment but the firm admitted that sales of fashion and handbags are still suffering from the fallout of last year's terrorist attacks in Paris.

The firm brought in EUR8.62 billion ($9.85 billion) in sales during the first three months of 2016, below the average forecast of EUR8.73 billion by 37 analysts polled by FactSet.

LVMH doesn't release quarterly profit figures.

The company's overall organic revenue growth, which strips out the effects of currency, rose 3% in the first quarter.

"The U.S. market is strong and Europe remains well oriented except for France which is affected by a fall in tourism," the company said in a statement.

LVMH, which owns a multitude of brands including flagship fashion label Louis Vuitton, champagne house Moët & Chandon and cognac label Hennessy, reported flat sales in its fashion and leather goods division. Meanwhile, its wines & spirits division reported 4% growth due to strong sales of cognac in both the U.S. and China.

Write to Jason Chow at [e-mail]

(END) Dow Jones Newswires

April 11, 2016 12:44 ET (16:44 GMT)

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