// LVMH posts solid first quarter sales
// Shares in the luxury retail firm surge to record high
Shares in the parent company of Louis Vuitton surged to record highs today after it posted strong first quarter sales.
LVMH, which also operates luxury retailers Dior, Sephora, Bvlgari and Kenzo, said first quarter revenues rose 16 per cent to €12.5 billion (£10.77 billion).
Meanwhile, like-for-like sales jumped 11 per cent.
The results beat analyst forecasts and sets the bar high for competing luxury firms such as Kering, Richemont and Hermes.
LVMH’s shares were up 3.3 per cent in early session trading today, touching record highs.