LVMH's Performance Seems Sufficient Amid Luxury Slowdown -- Market Talk

Dow Jones04-17

1015 GMT - LVMH Moet Hennessy Louis Vuitton's first-quarter performance seems good enough, given investor fears as the luxury sector grapples with a slowdown in sales growth, Quilter Cheviot analyst Mamta Valechha writes in a research note. The French luxury-goods company booked sales of EUR20.69 billion, down 2% in reported terms and up 3% organically compared with the year-earlier period. Despite the slowdown, LVMH's brands--which include Louis Vuitton and Loro Piana--seem to be doing well, the analyst says. The company sets the tone and expectations for the rest of its peers, but there will be diverging trends, she adds, noting that names in the midst of a turnaround plan could face a more cloudy period ahead. Shares are up 4.7% at EUR818.80. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 17, 2024 06:15 ET (10:15 GMT)

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Despite the slowdown, LVMH's brands--which include Louis Vuitton and Loro Piana--seem to be doing well, the analyst says. The company sets the tone and expectations for the rest of its peers, but there will be diverging trends, she adds, noting that names in the midst of a turnaround plan could face a more cloudy period ahead. Shares are up 4.7% at EUR818.80. 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