LVMH also reported a strong sales performance for the first two months of 2001, showing an increase of 13% over the same period in 2000. This, however, pales in comparison to its 35% leap for the first two months of last year. LVMH Chairman Bernard Arnault said the economic outlook was uncertain but that he expects results to improve by year's end.
"The first half will be affected by morose American sentiment, but each time we have gone through a period of uncertainty, we have made progress in relation to competitors," he said.
Copyright March 2001, Crain Communications Inc.