LVMH fashion and leather sales growth slows in Q3

PARIS: The fashion and leather division of luxury industry leader LVMH posted like-for-like third-quarter sales growth of 3 percent on Monday, marking a slowdown broadly anticipated by investors.

The unit, the biggest profit and revenue contributor at LVMH, had surprised the market with forecast-beating 10 percent sales growth in the second quarter to June.

Overall, the group that owns Hennessy cognac and Louis Vuitton fashion brands generated third-quarter like-for-like revenue growth of 7 percent, slightly higher than some analysts expected.