France-based luxury goods group LVMH says consumer spending is starting to get back on track.

The group’s like-for-like sales during the three-month period ended March 31 exceeded forecasts by 13%, driven by strong growth in the US and Europe. Sales for the period totalled EUR4.5 billion, with each of its five divisions posting d double-digit revenue growth. Its largest division, fashion and leathergoods, posted a 10% rise in sales to EUR1.7 billion.

"The group continues to perform well in Asia and has seen a strong rebound in the US and Europe," the company reported.

Share this story: