Turnaround Stories in Luxury Face Higher Risks Amid Sales Slowdown -- Market Talk

Dow Jones04-23

0950 GMT - Luxury companies in the midst of a turnaround process face higher risks than other peers in the sector, given the context of sluggish demand for the first half of the year, Stifel analysts write in a note to clients. These names appear more vulnerable to major forecast cuts if sales don't pick up in the second half of the year, which for now looks uncertain, as the industry grapples with a slowdown in sales growth, they say. Stifel prefers LVMH Moet Hennessy Louis Vuitton, Hermes, Richemont, Brunello Cucinelli, Moncler and Hugo Boss over players such as Kering, Swatch Group, Salvatore Ferragamo and Burberry Group. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 23, 2024 05:51 ET (09:51 GMT)

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Stifel prefers LVMH Moet Hennessy Louis Vuitton, Hermes, Richemont, Brunello Cucinelli, Moncler and Hugo Boss over players such as Kering, Swatch Group, Salvatore Ferragamo and Burberry Group. 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