Why LVMH Moet Hennessy Louis Vuitton (LVMUY) Stock Is Higher On Wednesday

NEW YORK (TheStreet) -- Shares of LVMH Moet Hennessy Louis Vuitton (LVMUY) are up 2.60% to $37.75. 

The France-based luxury goods company said today that first quarter sales increased 4% as the group faced a slowdown in China. Organic revenue growth was 6% compared to the same period in 2013.

First quarter revenue was $9.95 billion. Currency fluctuations cut 5% off the quarter's growth, the company said.

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