French Fashion Giant LVMH Posts 17% Sales Growth In Q1

French luxury fashion house LVMH-Moet Hennessy Louis Vuitton LVMHF LVMUY reported a first-quarter FY23 sales growth of 17% year-on-year to €21.04 billion. Organic revenue growth was 17%.
The owner of Louis Vuitton and Christian Dior fashion houses saw a 30% jump in the sales of Selective Retailing and an 18% growth in the Fashion & Leather Goods segment.
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The company said that Europe and Japan, which enjoyed strong growth momentum, benefited from robust demand from local customers and international travelers.
LVMH said it remains both vigilant and confident at the start of the year in an uncertain geopolitical and economic context.
Price Action: LVMHF shares are trading higher by 4.30% at $959.60 on the last check Wednesday.
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