FINANCE

Luxury giant LVMH says third-quarter sales rose 20%


© Reuters File Photo: May 28, 2020, Clients lined up in front of Louis Vuitton’s store inside Le Paristemps Houseman, a department store in Paris, after an outbreak of coronavirus (Covid-1) in France. / Go

PARIS (Reuters) – Sales of French luxury giant LVMH rose 20% in the third quarter, sparking a hunger for high-quality fashion from consumers eager to get out of the months following the epidemic lockdown.

LVMH, which sells a wide range of luxury goods in total and chandelier champagne and Bulgarian timepieces, said Tuesday that equal sales, excluding the impact of foreign exchange fluctuations, rose 15.51 billion euros (. 17.90 billion) in the three months to September.

Growth is consistent with analysts’ unanimous forecast for growth of approximately 21% Barclays (LON :), after a great second quarter that saw revenue grow 84%

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