LVMH's third-quarter sales beat forecasts as group returns to growth
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LVMH, the world's largest luxury goods group, reported a 1% rise in third-quarter sales, surpassing forecasts. The increase was driven by improved demand in China, despite a 2% decline in sales for its fashion and leather goods division, which includes Louis Vuitton and Dior. Total sales reached 18.28 billion euros ($21.17 billion) for the period, beating expectations of flat sales. The company noted significant improvement in trends across Asia, excluding Japan.
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