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High sales, record shares trend at LVMH

Tuesday, April 11, 2017 - 01:33

Shares in LVMH have hit a record high after the French company reported a surge in first-quarter sales. But, as Laura Frykberg reports, the world's biggest luxury goods group has also cautioned its business envronment remains uncertain

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It might not reflect what most can afford... Those who can though, appear to have their wallets wide open. The world's biggest luxury goods group LVMH has seen a surge in first quarter sales, to over 9 billion euros. That's up fifteen percent year-on-year. (SOUNDBITE) (English) CIBC, HEAD OF FX STRATEGY, JEREMY STRETCH, SAYING: "Worries the markets had, in particular in relations to an implosion in the Chinese economy this time last year, have proved to dissipate. So we've seen a much more constructive Chinese backdrop and of course that's hugely important for the luxury sector." The French company - which owns brands such as Louis Vuitton, Dior and champagne maker, Moet and Chandon - says it's had solid growth in its main markets.. Not only in China, but in Europe and the U.S too. But the trend could be short-lived. LVMH warning that uncertainty over Brexit and Trump... May see even big spenders rethink their habits. (SOUNDBITE) (English) CIBC, HEAD OF FX STRATEGY, JEREMY STRETCH, SAYING: "Only when those political risks start to crystalise, do we potential see spending patterns and spending levels start to be undermined." It's a view shared by Swiss watchmakers... Who say luxury brands could be the victim of geopolitical risks in 2017. For now at least.. Shareholders should like what they see Stocks hit a record high on Tuesday. Since the start of the year - they've been up 17 percent.

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High sales, record shares trend at LVMH

Tuesday, April 11, 2017 - 01:33