Pursuits
LVMH Profit Beats Estimates on Rising Fashion Sales
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LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods, reported first-half profit that beat analysts’ estimates as sales of fashion and leather goods accelerated in the second quarter.
Net income rose 53 percent to 1.05 billion euros ($1.36 billion), the Paris-based company said today in a statement after the market closed. The average estimate of 10 analysts compiled by Bloomberg was 956.2 million euros. Second-quarter sales advanced 22 percent to 4.63 billion euros.