PARIS, France — Luxury goods industry leader LVMH on Monday posted first-quarter sales below forecasts as solid demand in the United States failed to make up for weakness in key markets such as Asia and France.

Comparable sales growth at the group's fashion and leather division, which generates the most revenue, remained flat during the period. Analysts had expected the division to post comparable growth of between 2 percent and 3 percent in the first quarter.

LVMH, which owns fashion brands Louis Vuitton and Christian Dior as well as Hennessy cognac and Tag Heuer watches, made first-quarter sales of 8.62 billion euros (6.9 billion pounds), below Thomson Reuters mean forecast of 8.72 billion euros.

By Astrid Wendlandt; editors: Maya Nikolaeva and David Goodman.