LVMH Third-Quarter Sales Miss Expectations
LVMH posted lower third-quarter sales as declining Chinese consumer sentiment weighed heavily on its flagship brands. Organic revenue rose just one percent, missing analyst expectations and deepening concerns over a broader luxury slowdown.
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LVMH MOET HENNESSY LOUIS VUITTON reported third-quarter organic sales rose 1% to €18.5 billion ($20.7 billion), missing analyst expectations. The result highlights a deepening slowdown across the $350 billion luxury sector. European luxury groups have shed €330 billion in market value this year.
