LVMH 1Q Revenue Rose on Strong Sales in Fashion & Leather Goods

   By Euan Conley 
 

French luxury-goods conglomerate LVMH Moet Hennessy Louis Vuitton SE (MC.FR) said Monday that its revenue rose 10% in the first quarter of 2018, fueled by soaring sales in its core fashion and leather goods division.

Revenue for the quarter stood at 10.85 billion euros ($13.32 billion), beating analysts' expectations of EUR10.5 billion, according to a consensus provided by Factset.

Adjusting for currency effects, that was a 13% increase compared with the same period a year ago.

The company's fashion and leather goods division, which includes its flagship Louis Vuitton brand, led the way, with sales rising 25% to EUR4.27 billion.

LVMH attributed the increase to a "remarkable start" to the year for Louis Vuitton, driven by a strong performance across all of its businesses.

The maker of Hennessy cognac and Tag Heuer watches said there was good growth across its Asia, U.S. and Europe markets, and that it will continue to maintain tight controls over costs.

Write to Euan Conley at [e-mail]

(END) Dow Jones Newswires

April 09, 2018 12:17 ET (16:17 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.