Luxury goods giant LVMH set to bag a bumper quarter
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Luxury goods giant LVMH is set to post a bumper quarter tomorrow as shoppers snap up designer bags.
LVMH, which owns Louis Vuitton and Tiffany and Co, is expected to reveal revenue growth of 1 per cent in the three months to the end of September after strong sales across its leather and fashion houses, according to Bloomberg.
Designer goods have been relatively resilient to high inflation.
LVMH became Europe’s first company to break a $500billion (£409billion) market cap this year, but it has since swung back to a £316billion valuation.
Sophie Lund-Yates, of Hargreaves Lansdown, said LVMH may feel pressure amid uncertainty in China’s economy, adding: ‘Investors are keen to hear if [it] has shaken LVMH’s expectations for festive trading.’