LVMH Q2 sales climb 19%, offsetting slower China

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Reuters UK

PARIS (Reuters) – Sales at LVMH, the world’s largest luxury group, rose by 19% in the three months to June, as robust growth in the U.S. and Europe helped it offset a new round of lockdowns in China. LVMH, which owns dozens of high end labels ranging from Tiffany to Moet & Chandon, said sales came to 18.73 billion euros ($18.95 billion) in the second quarter, beating analyst expectations for 17.13 billion euros in a Visible Alpha consensus cited by UBS. The growth pace in the second quarter was a tad slower than in the first three months of 2022, when group sales had climbed by 23%. Demand for…

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