posts LVMH slow sales growth

LVMH Moet Hennessy Louis Vuitton, the world's largest maker of luxury goods, reported the slowest quarterly growth in the last three months of 2009, demand for leather goods and watches idle. Organic growth, excluding acquisitions and currency fluctuations, rose by 6 percent in the third quarter, the Paris-based LVMH said after markets closed yesterday. Prada Wallets "This set of results is not the best we've seen LVMH" Authie Leopold, an analyst in Paris, at Oddo & Cie, said by e-mail. "Many investors are very concerned about possible rapid deceleration in the current context, particularly in the Asia-Pacific region concerned." Luxury goods makers sales structures, which from the end of August. Burberry said demand slowed, especially at lower prices, while Prada and Hermes said they have yet to be affected by the global economic slowdown. Sales of expensive handbags and other items may require 5 percent in 2012, excluding currency fluctuations, less than half the pace estimated last year, Bain & Co. LVMH shares fell 1.5 percent to € 122 at 9:06 cutting the Paris Commercial Court in profit this year to 12 percent. A slowdown in sales growth of the fashion and leather goods company and watches and jewelery units is "worrying", said Thomas Mesmin, an analyst at CA Cheuvreux in Paris. Fashion and leather goods sales growth slowed to 4 percent in the quarter, while the watches and jewelery won 2 percent, excluding currency effects and acquisitions, estimates Mr. Mesmin. Total revenue for the quarter rose 15 percent to € 6.9 billion, LVMH said. LVMH said it "remains confident in its outlook for 2012." Nine-month sales rose 22 percent on a reported basis and 10 percent excluding currency effects and acquisitions, LVMH said.