LVMH Q1 Sales Doubled Analysts’ Expectations
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Following the results of the first three months of the year, the sale of the French luxury goods manufacturer LVMH Moet Hennessy Louis Vuitton grew up by 17% and amounted to €21.04 billion. The growth rate was twice as high as forecasts analysts polled by Visible Alpha who expected 8%.
LVMH’s sales grew the most in the Asian region, up 14%, which indicates the recovery of the Chinese market after severe pandemic restrictions. In the fourth quarter of 2022, when these restrictions were just beginning to be lifted, sales in this region showed an 8% decrease. Asia accounts for 36% of all LVMH sales in the first quarter. The American market remains the second most important for the concern, sales in it grew by 8%, again exceeding analysts’ expectations, and now account for 23% of the group’s total sales.
LVMH’s division, which includes select retail brands including Sephora, DFS and Le Bon Marche, grew the most in sales, up 30% to €3.96 billion. LVMH’s Fashion & Leather Goods division, which includes Louis Vuitton, Christian Dior Couture, Celine, Loewe, Fendi and others saw sales up 18% to €10.7 billion.
After the publication of financial statements, LVMH shares on the stock exchange are growing by 4.7%. Since the beginning of the year, their growth has exceeded 26%.
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