LVMH Moet Hennessy Louis Vuitton SA, the maker of Celine handbags and TAG Heuer watches, reported third-quarter sales that topped analysts’ estimates and said it
was confident for the remainder of 2011.
Revenue rose 18 percent to 6.01 billion euros, the Paris-based company said today in a statement. That was more than the 5.85 billion-euro average of seven analysts’ estimates compiled by Bloomberg. Excluding currency swings and acquisitions, sales rose 15 percent, LVMH said.
Luxury-goods sales growth may weaken in 2012 from this year’s 10 percent gain as Europe’s sovereign-debt crisis weighs on consumption of expensive handbags and other items in the region, Bain & Co. said yesterday. Still, Burberry Group Plc, the U.K.’s largest luxury-goods maker, said last week it sees no signs of a slowdown in any of its markets.
“The third quarter showed a continuation of the trend evident since the start of the year,” LVMH said in the statement. “The momentum continued in Asia, Europe and the United States, while Japan returned to growth over the period.”