LVMH pops 12% after posting growth for the first time this year

Shares of LVMH popped 12% Wednesday aft the French conglomerate posted maturation for the archetypal clip this twelvemonth and vowed to solidify its enactment successful the planetary luxury space.

In an update aft European trading hours connected Tuesday, LVMH — the world's biggest luxury conglomerate and 1 of Europe's astir invaluable companies — said gross for the 3 months to September came successful astatine 18.3 cardinal euros ($21.3 billion).

It fell beneath the 19.1 cardinal euro revenues scooped up successful the 3rd 4th of past year, but bushed analysts' expectations.

The Paris-listed steadfast — whose extended portfolio of brands includes Louis Vuitton, Tiffany & Co., Christian Dior and Moet & Chandon — is seen arsenic a bellwether for the planetary luxury goods market.

Currency headwinds, commercialized tensions and economical disruptions weighed connected its show successful the archetypal 9 months of the year, the steadfast said, touting its "resilience and ... almighty innovative momentum" successful the 3rd quarter. LVMH's vino and spirits part posted a betterment aft maturation was dampened by uncertainty astir China's new levies connected European Union cognac and caller U.S. import tariffs, it said successful the precocious Tuesday release.

Overall, the U.S. and Europe saw "solid section demand" successful the 3 months to September, LVMH said, portion Asia — with the objection of Japan — "saw a noticeable betterment successful trends."

Organic maturation for the 3rd 4th came successful astatine 1% year-on-year, marking a betterment from 2 consecutive quarters of declines. Year-to-date, the company's integrated maturation remained astatine 2% lower, however.

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