LVMH Moët Hennessy - Louis Vuitton, Société Européenne (LVMUY)
- Reuters
LVMH shares rise after luxury giant's Q1 sales offer element of reassurance
PARIS (Reuters) -LVMH shares rose on Wednesday, after first quarter sales figures from the world's largest luxury group offered an element of reassurance to investors concerned about the industry's outlook, particularly in China. LVMH shares were up by around 2% in early session trading. On Tuesday, LVMH reported that sales for the quarter ending in March rose 3% on an organic basis to 20.69 billion euros ($22 billion), matching analysts' expectations.
- Barrons.com
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.
- Reuters
UPDATE 3-LVMH sales growth slips on luxury spending slowdown
LVMH's sales slowed in the first quarter as rising prices prompted more shoppers who aspire to own its luxury labels to hold back on splashing out thousands of dollars on handbags and other accessories. Slower sales growth of 3% reflected comparisons with the same quarter in 2023, when sales were boosted by the lifting of COVID-19 curbs in LVMH's key market of mainland China and comes amid worries about a prolonged global slowdown which has knocked shares in luxury companies over the past year. The world's largest luxury group, owner of Louis Vuitton, Tiffany & Co. and Bulgari, said on Tuesday that sales for the quarter ending in March rose 3% on an organic basis to 20.69 billion euros ($22 billion), matching analyst expectations.
