Luxury giant LVMH says third quarter sales grew by 20% By Reuters

© Reuters. FILE PHOTO: Shoppers, carrying protecting face masks, queue in line in entrance of a Louis Vuitton store contained in the division retailer Le Printemps Haussmann in Paris following the outbreak of the coronavirus illness (COVID-19) in France, Could 28, 2020. REUTERS/Go

PARIS (Reuters) – Gross sales at French luxurious big LVMH grew by 20% within the third quarter, fuelled by urge for food for high-end trend from shoppers desperate to splash out following months of pandemic lockdowns.

LVMH, which sells a spread of luxurious merchandise spanning Moët & Chandon champagne and Bulgari timepieces, stated on Tuesday like-for-like gross sales, stripping out the impact of international alternate fluctuations, rose to fifteen.51 billion euros ($17.90 billion) within the three months to September.

Development was roughly consistent with an analyst consensus forecast for a 21% rise cited by Barclays (LON:), after a stellar second quarter which noticed revenues surge by 84%.

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