Reported about 1 month ago
LVMH shares dropped significantly after the luxury goods giant reported disappointing third-quarter sales, marking its first decline in quarterly sales since the pandemic. The company's weaker performance was attributed to declining demand in China and Japan, impacting the overall luxury sector, where other brands like Kering and Hermes also saw their stocks decline. Investment analysts indicated that the outlook remains challenging for luxury stocks, especially given the economic uncertainty in China.
Source: YAHOO