The luxury goods bellwether reported strong sales. But are investors too optimistic about the outlook? Ben Judge reports.
“Luxury is back from the brink,” says Andrea Felsted on Bloomberg Gadfly. LVMH, the Paris-listed firm that is the world’s largest maker of luxury goods, saw first-quarter sales “beat expectations across every division”. Revenues rose by 13% to €9.9bn, more than the €9.5bn that analysts predicted. China’s economy is rebounding, Europe is “benefiting from a return of the travelling luxury consumer”, and the market remains positive in the US. That [...]