UPDATE 1-LVMH Q3 beats forecasts, comparable sales up 14 pct

* LVMH Q3 comparable sales up 14 pct vs Reuters poll 11 pct

* Q3 sales 5.1 bln euros vs Reuters poll 4.9 bln

(Adds details)

PARIS, Oct 14 (BestGrowthStock) – LVMH (LVMH.PA: ), the world’s
biggest luxury group, beat forecasts with a 14 percent rise in
comparable third-quarter sales, driven by the solid recovery of
its fashion, wines and champagne businesses.

LVMH, the first European luxury group to publish third
quarter figures, on Thursday confirmed the industry’s
stronger-than-expected rebound, powered in part by expansion in
China and a weak euro attracting tourist shoppers.

Analysts expected like-for-like sales growth of 11 percent
for the third quarter, compared with a 3 percent drop in 2009,
the worst year for the luxury goods industry in more than two
decades.

The group, which owns fashion brands Celine and Louis
Vuitton as well as Moet & Chandon, the world’s biggest champagne
maker, said sales in the three months to Sept. 30 reached 5.1
billion euros ($7.1 billion), beating a Reuters poll of 4.9
billion euros.

On a nine-month basis, revenue reached 14.2 billion euros
against expectations of 13.98 billion euros, based on a Reuters
poll of 10 analysts.

“The excellent performance of LVMH in the first nine months
of the year has confirmed its confidence for 2010,” the group
said in its statement without giving a full-year outlook.
(Reporting by Astrid Wendlandt; Editing by Mike Nesbit)
($1=.7173 euros)

UPDATE 1-LVMH Q3 beats forecasts, comparable sales up 14 pct