Distillers Can Raise a Glass to Spirits Growth at LVMH
Dow Jones07-28
1009 GMT - Sales growth at LVMH's wines & spirits business offers a boost for the wider sector, Jefferies's Edward Mundy says. The French luxury behemoth booked a 5% increase in revenue at Moet-Hennessy, the division housing its namesake champagne and cognac brands and other wine and spirits labels. That was better than expected, Mundy says. While the spirits sector continues to face a tough backdrop, investor confidence may be increasing that the industry's worst days are now behind it, he says.
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