RAPAPORT...  Third-quarter revenue was down 3 percent at LVMH Moët Hennessy Louis Vuitton, which reported its results after the closing bell in Paris. The luxury group's total revenue for the quarter was $6.17 billion (EUR 4.13 billion). Jewelry sales took the largest hit in third-quarter 2009, falling 22 percent year on year to $279 million (EUR 187 million).

The LVMH Group called its total sales performance in Europe "resilient" and noted strong momentum across Asia, particularly in China. The first nine months of the fiscal year, though, were a challenge for the firm's watch and jewelry sector, led by a broad revenue decrease due to de-stocking by distributors, according to LVMH. 

"In a still challenging environment, TAG Heuer is winning market share, notably in the United States, and has focused on its iconic lines, such as the automatic version of Aquaracer 500 and new models in the Monaco line. Hublot showed a good level of resilience despite the crisis. Montres Dior successfully launched the Mini D. Chaumet saw good growth at its own retail stores in the third quarter," the company noted. 

LH