LVMH Could See Softer 2Q in Its Core Business -- Market Talk

Dow Jones04-17

1134 GMT - LVMH Moet Hennessy Louis Vuitton could see a softer second quarter in its key fashion and leather goods division, as the luxury sector continues to grapple with a slowdown in sales growth, Jefferies analysts say in a research note. The French luxury giant reported first-quarter sales of EUR20.69 billion, down 2% in reported terms and up 3% organically on year. As flagged by other luxury peers, spending among Chinese consumers was still low, while other major markets such as Europe and the U.S. saw a slight contraction, they say. The second quarter might be soft for the fashion and leather goods business in the absence of a more assured recovery in Western markets, they say. Shares are up 4.8% at EUR819.30. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 17, 2024 07:39 ET (11:39 GMT)

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As flagged by other luxury peers, spending among Chinese consumers was still low, while other major markets such as Europe and the U.S. saw a slight contraction, they say. The second quarter might be soft for the fashion and leather goods business in the absence of a more assured recovery in Western markets, they say. Shares are up 4.8% at EUR819.30.  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