Bought any Louis Vuitton lately?
The world's largest luxury company saw its sales surge in the first quarter, jumping up 11 percent, which is better than what most analysts were anticipating. Revenues rose to $6.1 billion during the quarter. All five of the Paris-based company's divisions saw double-digit revenue growth.
From the BBC:
The luxury goods industry has been hard hit by recession, but consumer spending is up and companies are replenishing their stocks, LVMH said. "The group continues to perform well in Asia and has seen a strong rebound in the US and Europe," the company said in a trading update.
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