LVMH Could Regain Ground in 2H -- Market Talk

Dow Jones04-17

0943 GMT - LVMH Moet Hennessy Louis Vuitton reported weak trends for the first three months, but could see an improvement in the second half, Stifel analyst Rogerio Fujimori writes in a research note. The French luxury giant posted sales of EUR20.69 billion, down 2% in reported terms and up 3% organically compared with the same period of 2023, when the company benefited from the lifting of sanitary restrictions in China and a rebound in international travel. "LVMH had a soft start to 2024 as anticipated by the market," Stifel says, adding that the company could see re-acceleration in growth trends in the second half thanks to an easier comparison base. Shares are up 4.2% at EUR814.30. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 17, 2024 05:45 ET (09:45 GMT)

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