European luxury stocks stoked by LVMH results
- The luxury apparel sector is waking up after LVMH (OTCPK:LVMHF, OTCPK:LVMUY) tops estimates with its Q3 report.
- Organic sales were up 12% for the retailer during the quarter to sail past the 9% growth expected by analysts. Double-digit sales growth was recorded in the selective retailing, watches & jewelry, fashion & leather goods and perfumes & cosmetics categories.
- Shares of LVMH are up 2.42% in Paris. Also making gains today in Europe are Christian Dior (OTCPK:CHDRF), Kering (OTCPK:PPRUF, OTCPK:PPRUY), Hermes International (OTCPK:HESAF, OTCPK:HESAY), Pernod Ricard (OTCPK:PDRDF, OTCPK:PDRDY), Burberry (OTCPK:BURBY, OTCPK:BBRYF), Orchestra Premaman, L'Oreal (OTCPK:LRLCF, OTCPK:LRLCY), Richemont (OTCPK:CFRHF, OTCPK:CFRUY) and Remy Cointreau (OTCPK:REMYF, OTCPK:REMYY).
