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LVMH Shares Surge as Sales Show Luxury Defies Pandemic Gloom

  • Revenue at fashion and leather unit jumps ‘eye-popping’ 52%
  • Results raise expectations for the wider sector: BI analyst
Models on the runway during the Louis Vuitton Menswear Fall/Winter 2021-2022 show as part of Paris Fashion Week on Jan. 20.
Models on the runway during the Louis Vuitton Menswear Fall/Winter 2021-2022 show as part of Paris Fashion Week on Jan. 20.Photographer: Pascal Le Segretain/Getty Images
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LVMH’s first-quarter sales soared, sending the stock to a record and pointing to the luxury sector’s recovery from a pandemic-induced slump.

Revenue at the fashion and leather goods unit surged 52% on an organic basis from a year earlier, the company said late Tuesday. Analysts had expected a 30% increase. Gains in China drove the “eye-popping organic growth,” said Francesca DiPasquantonio, an analyst at Deutsche Bank AG.