Reported about 1 month ago
LVMH's shares fell to a two-year low after the company reported third quarter earnings that missed estimates, primarily due to a slump in consumer spending in China, a vital market for luxury brands. This disappointing performance affected not only LVMH, the owner of Louis Vuitton and Tiffany & Co., but also led to a sell-off in the broader luxury sector, impacting stocks such as Hermès, Kering, and Richemont.
Source: YAHOO