LVMH sales growth slows as China's slump weighs on luxury spending

Quick Summary:

Shares in LVMH Moët Hennessy Louis Vuitton SE fell as much as 5.

Profit from recurring operations in the first half fell short of estimates, while the division that includes cosmetics retailer Sephora grew by about half what analysts expected in the most recent quarter.

Run and controlled by Bernard Arnault, the world’s third-richest person, LVMH has some 75 luxury brands spanning fashion, jewelry, hotels and spirits.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaJapan

Topics: Lvmh Stock Share Luxury shopping LOUIS vUITTON Louis Vuitton

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 00:31:11 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 523 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21764651

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