LVMH beats forecasts with strong fashion, leather goods third-quarter sales

LVMH, the world’s biggest luxury goods company, on Monday reported a 12 percent rise in like-for-like revenues in the third quarter of 2017, beating estimates after a strong showing by its clothing and leather goods division.

LVMH - which owns fashion brands such as Louis Vuitton and Christian Dior as well as Moet & Chandon champagne and Hennessy cognac - said revenues in the period came in at 30.1 billion euros ($35.35 billion).

Analysts polled by Inquiry Financial for Reuters had expected revenue growth on a like-for-like basis, which strips out currency swings and the effect of acquisitions or disposals, to rise 9 percent in the quarter.

The fashion and leather goods unit, the biggest contributor to LVMH’s earnings and which is powered by the Louis Vuitton label, posted like-for-like revenue growth of 13 percent, in line with the previous three months and also beating forecasts.