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European luxury stocks stoked by LVMH results

Published 10/10/2017, 09:02 AM
Updated 10/10/2017, 09:02 AM
© Reuters.  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 (PA:PRTP) (OTCPK:PPRUF, OTCPK:PPRUY), Hermes International (PA:HRMS) (OTCPK:HESAF, OTCPK:HESAY), Pernod Ricard (PA:PERP) (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).
  • Now read: 5 Questions Walk Through Richemont's Investment Case


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