The world's largest luxury group saw its shares tumble as much as 7.5% Wednesday morning to a two-year low before ticking back up by the afternoon.
ASML and LVMH were both tumbling on Wednesday. It's all about China.
It has been an unfortunate day for the European megacaps, with global luxury giant LVMH sliding nearly 5% in response to a wholly underwhelming nine-month trading update. Sales across LVMH's wines and
LVMH posted a year-over-year sales decline in the third quarter, showing the continuing pressure on the luxury sector from weak Chinese spending.
LVMH reported a 3% decline in sales in its most recent quarter. The drop is driven by decreased demand from Chinese consumers, affecting luxury sales.

LVMH stock falls on slumping luxury sales in China

04:43am, Wednesday, 16'th Oct 2024
LVMH Moët Hennessy Louis Vuitton said a slowdown in Chinese spending had hit its third quarter sales
Europe's answer to the Magnificent Seven is leaving much to be desired after two of the Continent's biggest companies, ASML Holding and LVMH Moet Hennessy, disappointed investors.

China Slump Hurts LVMH as Sales in Region Fall 16%

02:01am, Wednesday, 16'th Oct 2024
LVMH's sales of fashion and leather goods fell for the first time since the pandemic as the industry's biggest player was hammered by a slump in demand from Chinese consumers whose appetite for high-e
LVMH saw quarterly sales dip amid an “uncertain economic and geopolitical environment.” The luxury retail giant reported third-quarter earnings that showed a 3% drop in revenues — to 19.1 billio
LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTCPK:LVMHF) Q3 2024 Sales Call October 15, 2024 12:00 PM ET Company Participants Rodolphe Ozun - Director of Financial Communications Jean-
Luxury-brands firm LVMH reported nine-months revenue of €60.8 billion, reflecting slight growth, and strong spending by Chinese customers in Europe and Japan.
The French luxury empire said the decline in revenue during the quarter was mainly due to lower growth in Japan.
Paris, October 15, 2024 LVMH Moët Hennessy Louis Vuitton, the world's leading high-quality products group, recorded revenue of €60.8 billion in the first nine months of 2024, stable on a constant
Investors in French luxury group LVMH are eager for signs that China's new fiscal stimulus measures can finally pull wealthy and middle-class Chinese shoppers out of their funk, inspiring them to spla
Recent results show some weakness in certain segments, but overall performance remains solid, making LVMH an attractive investment below €650/share. LVMH has seen a decline in valuation, but offers
Click to get the best stock tips daily for free!

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE