LVMH sales fell more than expected in the first quarter, as the world’s leading group of definitions made by US President Donald Trump.
Organic sales of fashion and leather goods in the luxury group listed in Paris decreased by 5 percent on an annual basis to 10.1 billion euros in the first three months of the year. He missed consensus expectations of a 1 percent increase by a significant difference.
LVMH, which is controlled by billionaire Bernard Arnolt, CEO and President of the Group, defined the United States and Japan as weakening markets. The company said: “The rest of Asia witnessed similar trends for 2024.”
The Fashion and Skin Commodities Department, which includes Louis Vuitton and Christian Dior, is seen as a bell of the broader luxury sector.
Group sales decreased by 3 percent to 20.3 billion euros, compared to consensus estimates that they will be flat.
The company said: “In a thirsty geopolitical and economic environment, LVMH remains awake and confidence at the beginning of the year.”
This is a developing story.
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