LVMH: up 1.3% after quarterly sales figures.

(CercleFinance.com) - LVMH has announced Q1 2017 like-for-like sales growth of 13%, which has led to the stock increasing 1.
3%, the sharpest riser in the CAC 40 today.

According to analysts at Société Générale (SG), for LVMH this is "the best quarterly performance (...) seen since the first quarter of 2012".

Bryan Garnier, which has a Buy rating on the stock, highlights the outstanding performance of the group's fashion and leather goods division (+15%), thanks to the brands Louis Vuitton, Fendi and Céline. In addition, wines and spirits have performed well (+13%), "boosted by growth in Champagne sales (+7%)," analysts said.

Likewise, Perfumes and cosmetics have performed well (+12%). All these details have encouraged analysts to increase their FY 2017 expectation of LVMH's organic sales growth from 5% to 8%, in addition to upping their target price from 208 euros to 223 euros.


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