The Globe and Mail reports in its Tuesday edition that sales at LVMH edged higher in the second quarter as strong demand from affluent American shoppers helped offset weaker spending in Europe. A Reuters dispatch to The Globe reports that sales rose 3 per cent when adjusted for currency swings to $31.3-billion, broadly in line with expectations. Growth was driven by the U.S., where sales rose 6 per cent after a 3-per-cent increase in the first quarter, LVMH said, citing strong demand fuelled by newly created wealth such as from the artificial intelligence and technology booms. The watches and jewellery division was LVMH's fastest-growing business, with organic sales up 11 per cent, up from 7 per cent in the previous quarter. Tiffany and Bulgari posted growth in the mid-teens as wealthy shoppers continued to favour jewellery over soft luxury categories. "What you've seen is that despite continued instability in the macro environment, trends improved across all geographies in H1 and where wealth is created, consumer appetite for luxury and for our products in particular is strong," finance chief Cecile Cabanis said on a call with analysts, striking a more confident tone than after more muted first quarter results.