News - LVMH surprises with results

The latest sales' results at LVMH say it all: luxury consumers are back with a vengeance. The luxury group posted a forecast-beating 13 percent rise in comparable sales for the first quarter, with the company reporting strong gains in its wines, spirits, watches and jewellery businesses, which had all been hit hard by the downturn. The biggest surprise stemmed from Wines & Spirits up 20 percent, while its Watches & Jewellery division was up 34 percent. As is customary for LVMH, there were few comments on the outlook, only a small note of caution that the pace of recovery remains uncertain. But let’s face it, for now the champagne seems to be flowing.