Tourism recovery boosts DFS nine-month sales

Gavin Lipsith

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DFS Group parent company LVMH reports continued progress in the first nine months of 2005, with sales in its Selective Retailing division reaching Eu2.55bn ($3.08bn)

Luxury goods conglomerate Moet Hennessy-Louis Vuitton (LVMH) has reported sales growth of 11% across its businesses for the first nine months of 2005, with total sales reaching €9.6bn ($11.6bn). Sales in its Selective Retailing division, which incorporates DFS Group and beauty retailer Sephora, grew by 12% to €2.55bn ($3.08bn).

LVMH said that DFS's results had been boosted by the continued recovery in tourism markets and strong management, while Sephora showed "exceptional performance" in Europe and the US.

Among its other divisions, Wines & Spirits led the growth with a 16% increase in sales. Watches & Jewellery grew by 13%, while both Fashion & Leathergoods and Perfumes & Cosmetics increased by 9%.

The group said that it expects the strong performance to continue in the fourth quarter of the year.