Pursuits
LVMH Confident on Luxury Demand as Revenue Beats Estimates
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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 is confident for the remainder of 2011.
Revenue rose 18 percent to 6.01 billion euros ($8.28 billion), 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 advanced 15 percent, LVMH said.