LVMH Nine-Month Revenue Up 4% - Quick Facts

(RTTNews) - Luxury products company LVMH Moët Hennessy Louis Vuitton (LVMUY.PK), Tuesday reported a 4% rise in revenue for the nine-month period of 2014, led by growth across all most businesses, except Wines & Spirits which continues to be affected by destocking by distributors in China.

Revenue for the nine-month period of 2014 climbed 4% to 21.4 billion euros from 20.6 billion euros a year ago.

Fashion & Leather Goods revenue for the nine-month period gained 8% from last year, Perfumes & Cosmetics rose 4%, Watches & Jewelry inched up 2%, and Selective Retailing increased 5%. Wines & Spirits slid 7%.

For the third quarter of 2014, the company said its revenue climbed to 7.02 billion euros from 6.99 billion euros in the prior year.

The company said that organic revenue grew 4% in the third quarter, the trend remains comparable to that recorded in the first half of the year. An improved growth rate in Europe and the United States during the quarter compensated for the slowdown observed in Asia.

LVMH said that in an uncertain economic and financial environment, it will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets.