Shares of luxury goods giant LVMH fell on Wednesday as investors reacted cautiously to the group's slightly better-than-expected full-year results. While LVMH exceeded revenue forecasts, declining sales in key segments raised concerns about a broader recovery in the luxury sector.
Shares of luxury goods giant LVMH dropped on Wednesday as investors reacted cautiously to the group's slightly better-than-expected full-year results.
Investors have been looking for further confirmation of a recovery in the luxury sector after Cartier owner Richemont reported its "highest ever" quarterly sales. LVMH on Tuesday attributed its revenue growth to solid demand within its selective retailing division — which includes retailer Sephora — and perfume and cosmetics. Growth was also broadly driven by consumers in the U.S., Europe and Japan, while the wider Asia Pacific region — and notably China — lagged.
LVMH Luxury Goods Revenue Share Price Market Reaction
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