Editor
In its first-quarter results, LVMH’s Selective Retailing unit was the French conglomerate’s brightest spot. Sales rose 11 percent on an organic basis, with “remarkable growth” at Sephora cited. Overall sales for LVMH rose 3 percent, indicating that fears that luxury demand was cooling in step with economic growth were well-founded.
Sephora’s store network expanded in the last quarter, particularly in the US, though growth was also…
