LVMH has announced a forecast-beating 11.3 percent rise in comparable sales for the first quarter, helped by a strong rebound in the U.S. and Europe.Although, in organic terms, meaning with like-for-like structure and at constant exchange rates, the revenue increase stood at 13 percent.
Shares in LVMH, the first major European luxury group to post first-quarter figures, jumped to 92.36 euros in high volume trade, their highest point since September 2000, and by 0722 GMT were still up 3.25 percent at 91.62 euros, the top French blue-chip gainer.
Also, shares in PPR which owns Gucci Group, were up 1.63 percent, and shares in Richemont were up 1 percent. Read more at Reuters.
Image credit: stylecaster.com. Shows Bernard Arnault, CEO of LVMH.
