Luxury-goods conglomerate LVMH Moet Hennessy Louis Vuitton posted a 13% drop in net profit for 2009, hurt by an economic downturn that has curbed appetites for expensive goods. But the company logged record sales in December, a tentative sign that the crisis may not have permanently damped consumer spending habits, as many had feared.

LVMH, a bellwether for the luxury-goods industry and the owner of brands such as fashion house Louis Vuitton and Dom Perignon champagne, said net profit for 2009 fell to 1.76 billion euros ($2.45 billion) as sales edged down 1% to 17.1 billion euros. For the fourth quarter alone, sales increased 1%, fueled by record revenue in December, the company said.