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Bloomberg
LVMH shares rose to a record in Paris after the luxury leader’s sales far exceeded estimates on rebounding demand for items from Louis Vuitton bags to Hennessy cognac. Figures showed first-quarter organic revenue rose 13 percent, compared with the 8 percent median forecast. All divisions beat estimates, with the fashion and drinks units standing out. The stock gained as much as 2.9 percent to 213.50 euros, the steepest intraday advance in more than a month. Investment in brands such as Louis Vuitton has enabled LVMH to extend its leadership of an industry that’s undergoing a turnaround after several years of ebbing demand in China and a slowdown in travel to Europe.