LVMH (ENXTPA: MC) 3Q19 Update: Fashion & Leather Goods Set the Pace

Executive Summary

• LVMH reported 3Q19 sales of €13.3 billion, a 17.0% increase on a reported basis, or 11.0% growth on a comparable basis.
• By division, the Fashion & Leather Goods business grew sales 22.2% compared to the year-ago period, Wines & Spirits sales rose 10.7% and the Perfumes & Cosmetics category was up 9.3%.The growth of Selective Retailing trailed the group.
• By geography, Japan was the best-performing market, experiencing 20% growth. Sales rose 12% in Asia (excl. Japan), 8% in the US (excl. Hawaii) and 11% in Europe.