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LVMH’s Q3 18% Sales Increase Adds Optimistic Outlook for Luxurygoods Sales

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Paris—If there’s a company that’s rightfully bullish on luxurygoods sales, it’s LVMH, which today reported 18% increase in its third quarter earrings to 6.01 billion euros (about $8.23 billion) Excluding currency swings and acquisitions, the sales increase beat analysts’ estimates for 5.85 billion euros for the quarter. Noting a continuation …

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Arnault: LVMH a “Pacifist” Shareholder in Hermes

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Paris—Bernard Arnault, chairman of LVMH, struck a conciliatory tone late last week about his company’s stake in Hermès, which has been viewed as hostile by the majority shareholders, mostly family members of Hermès’ founders. Speaking to French publication Challenges, Arnault reiterated previous statements from LVMH that its stake in Hermès …