News > LVMH shows the luxury sector is in pain
LVMH shows the luxury sector is in pain
24/07/2024 10:44 PM | Click to read full article
The owner of Louis Vuitton and Dior on Tuesday reported a 1% increase in sales excluding currency movements and mergers and acquisitions in the fiscal second quarter, below analysts’ expectations of a 2.89% gain, and the lowest level of growth since 2009, excluding the pandemic dip. Sales of fashion and leather goods, the engine of the group, also rose 1% in the three months to June 30, about half of what analysts had been expecting.