LVMH Organic Growth Up 4% in First Nine Months; China Slows

LVMH Moët Hennessy Louis Vuitton recorded a 4% increase in revenue to reach €21.4 billion for the first nine months of 2014. Organic revenue also grew by 4% compared to the same period in 2013. All business groups grew except Wines & Spirits which continues to be affected by destocking by distributors in China.

With organic revenue growth of 4% in the third quarter, the trend remains comparable to that recorded in the first half of the year. An improved growth rate in Europe and the United States during the quarter compensated for the slowdown observed in Asia.

Outlook

In an uncertain economic and financial environment, LVMH will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets. LVMH will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2014.

Stocks of Interest on the news: Tiffany & Co. (NYSE: TIF), Michael Kors (NYSE: KORS), Coach (NYSE: COH).

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