LVMH results
This article was originally published in The Rose Sheet
Executive Summary
Fragrance houses Dior, Givenchy, Guerlain and Kenzo record 18% sales increases for first quarter contributing to 19.6% jump in Perfumes & Cosmetics division sales, LVMH says. Perfumes & Cosmetics sales were $454 mil. ([Euro]1=$.89) up from $380.4 mil. the prior year, reflecting the acquisition of Fresh, as well as Urban Decay, which impacted January sales exclusively. Sephora sales were up 34% in Europe and 60% in U.S., contributing to 14.5% growth in LVMH's $735.7 mil. Selective Distribution division. Consolidated sales grew 11.7% to $2.46 bil. for quarter. Earnings were not released