LVMH, the world’s biggest luxury goods company predict
tough period ahead after producing stronger than
expected sales growth in the third quarter which sent
its shares towards record highs. Chinese demand for
LVMH’s high-end clothing labels and spirits helped sales to
rise more than expected in the third quarter, boosting its
shares and those of its rivals.
LVMH, like its rivals, is grappling with a strengthening euro that could dampen tourist spending. It also faces tougher comparisons between October to December, when earnings will compare to a year earlier when a recovery in Chinese spending following a recession was already in full swing.