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LVMH’s Sales Fall Short Amid ‘Uncertain’ Environment for Luxury Goods

LVMH’s Sales Fall Short Amid ‘Uncertain’ Environment for Luxury Goods

LVMH Moët Hennessy Louis Vuitton missed first-quarter revenue estimates, as demand for the company’s luxury goods contracted slightly, the company announced Tuesday. Organic revenue, which excludes external factors such as currency fluctuations, rose by 3%, LVMH said. Foreign exchange factors represented a 4% drag on reported revenue.