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LVMH shares flat after its Q3 revenues

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PARIS, Oct 13 (Reuters) – Shares in LVMH (LVMH.PA) had been flat in early buying and selling on Wednesday after the French luxurious large posted a robust rise in gross sales in its trend and leather-based items division within the third quarter.

LVMH, whose luxurious merchandise span Moët & Chandon champagne and Bulgari timepieces, stated on Tuesday the recognition of its star labels Louis Vuitton and Dior helped its trend and leather-based items division, which accounts for almost half of group gross sales, to report 24% progress.

Revenues for this enterprise on the finish of the quarter had been 38% above their pre-pandemic, 2019 degree, the identical price as within the first half. learn extra

LVMH shares opened up 0.4% after the opening bell earlier than falling flat in early commerce, outperforming the broader French inventory market.

“LVMH delivers another strong quarter”, analysts at Jefferies stated in a notice.

“While we remain cautious on the sector in the short term, we continue to view LVMH as the structural winner”, in addition they stated.

Overall Like-for-like gross sales, stripping out the impact of international alternate fluctuations, rose by 20% to fifteen.51 billion euros ($17.91 billion) within the three months to September. Growth was roughly in keeping with an analyst consensus forecast for a 21% rise.

($1 = 0.8660 euros)

Reporting by Matthieu Protard; Editing by Benoit Van Overstraeten

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