LVMH Q2 China Rebound Offsets Weakening US Demand

LVMH sales in the second quarter were buoyed by a strong rebound in Chinese spending, helping to offset weakening demand from aspirational customers in the US, the group said Tuesday.

Revenue for the first half rose 17 percent year-on-year to €42.2 billion, with sales in Asia, excluding Japan, up 34 percent year-on-year in the second quarter. Profit in the first half grew 13 percent to €11.6 billion, slightly short of analyst expectations….