LVMH announces optimistic first quarter results

Published: 13-Apr-2010

LVMH announces an 11% rise in sales in Q1


The LVMH luxury products group has reported an increase in sales of 11% to €4.4bn with organic growth of around 13% for the first quarter of 2010. This compares favourably with a forecast of a 5.7% growth and sales of €4.2bn. The group's share price also gained 3.5% on the Paris Bourse on the announcement, ending at €91.80.



Organic growth in the group's cosmetics and perfumes arms have reached 12%, largely due to the recent success of a number of Dior products and several new product launches, according to LVMH. The company’s perfumes, make-up and skin care distributor Sephora has also gained further market share and will launch its 1,000th store worldwide during the second quarter of this year, the company has said.



In other news, L'Oréal has benefited from a short term buying recommendation for its shares from UBS ahead of the announcement of its first quarter sales. UBS has said it expects a spike in activity of around 6% with weakness in western Europe being offset by “vigorous growth” in other world markets and the recovery of the luxury products segment.
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