LVMH Q1 Revenue Rises 4%

(RTTNews) - Luxury fashion retailer LVMH Moet Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK), Thursday said its revenues for the first quarter grew 4 percent, driven largely by strong growth in Japan and continued improvement in US and Asia.

Louis Vuitton revenues for the first quarter rose 4 percent to 7.21 billion euros from 6.91 billion euros last year. Organic revenues growth was 6 percent for the quarter.

Wines and spirits business dropped 8 percent to $888 million euros, due to weak performance of cognac in China. Fashion and leather goods rose 11 percent 2.64 billion euros, while perfumes and cosmetics inched up 1 percent.

Selective retailing grew 5 percent to 2.22 billion euros while watches and jewelry was relatively unchanged at 607 million euros.