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LVMH reports 9.6% jump in Q3 revenue reflecting broad-based growth

LVMH Moët Hennessy Louis Vuitton SE said Oct. 9 that revenue rose 9.6% in the third quarter of 2018, boosted by growth across all business groups and in all regions.

The French luxury fashion and leather goods maker, continuing a run of strong sales, said revenue for the third quarter increased to €11.38 billion from €10.38 billion in the year-ago period. LVMH, the owner of a collection of fashion houses that includes Christian Dior, Céline and Givenchy, said revenue for the first nine months of 2018 rose 10% to €33.13 billion from €30.1 billion reported in the same period in 2017.

Acknowledging an "uncertain geopolitical and monetary context," the company said in a statement it would continue to focus on innovation and targeted geographic expansion in the most promising markets. The revenue figures were published after the close of the French stock market.

The fashion and leather goods business performed especially well, recording a 20% jump in revenue to €13.1 billion in the first nine months of 2018 from €10.84 billion in the same period a year earlier. In that division, the company said it saw especially strong momentum in the ready-to-wear and shoes segments.

The perfumes and cosmetics business, and the watches and jewelry business each recorded an 8% increase in revenue over the same period. Revenue from wines and spirits grew 1% year over year for the first nine months of 2018.