LVMH's third-quarter sales beat forecasts as group returns to growth

PARIS (Reuters) -France's LVMH, the world's largest luxury goods group, reported a 1% rise in third-quarter sales on Tuesday, helped by improved demand in China as the industry grapples with a prolonged slump. Sales at the fashion and leather goods division, home to flagship brands Louis Vuitton and Dior and accounting for over two thirds of profits, were down 2% versus a year earlier. The quarterly trading update beat a Visible Alpha consensus cited by HSBC that had seen flat overall sales and a 4% decline for the fashion and leather division. Trends in Asia excluding Japan – a market dominated by China – improved "significantly" nine months into the business year, LVMH said in a statement. Total sales at the conglomerate controlled by French billionaire Bernard Arnault, which also owns brands such as jeweller Tiffany, Moet & Chandon champagne and beauty retailer Sephora, rose 1% to 18.28 billion euros ($21.17 billion) in the July to September period. ($1 = 0.8634 euros) (Reporting by Tassilo Hummel and Mimosa Spencer; Editing by Makini Brice)

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