Reported about 19 hours ago
LVMH, the French luxury giant, reported a 3% drop in third-quarter sales, marking its first quarterly decline since the pandemic. The company's revenue for the quarter was 19.08 billion euros, falling short of analyst expectations due to weakened demand in key markets like China and Japan. The fashion and leather goods division, which includes brands like Louis Vuitton, saw a 5% decline, with significant impacts noted in Asian sales, particularly a 16% drop in mainland China.
Source: YAHOO