MC
LVMH Moët Hennessy Louis Vuitton (PAR: MC) reported a 2% decrease in first-quarter revenue to €20.7 billion, falling short of the anticipated €21 billion.
Despite a 3% rise in organic revenue, total revenue was impacted by a 4% decline due to currency effects. However, shares rose by 2.6% following the announcement.
The watches and jewelry sector experienced a 5% sales drop, while fashion and leather goods decreased by 2%. The wines and spirits division faced the most significant decline at 16%.
However, global sales of Louis Vuitton in China rose by 10%, indicating strong overseas consumer spending. Analysts from Bernstein and Goldman Sachs remain optimistic, forecasting a potential upswing in future quarters and maintaining a positive outlook on LVMH's stock.
| Segment | Revenue Change (%) |
|---|---|
| Total Revenue | -2% |
| Watches and Jewelry | -5% |
| Fashion and Leather Goods | -2% |
| Wines and Spirits | -16% |
