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French luxury giant LVMH LVMUY said the Iran war shaved at least 1 per cent off its total group sales in the last quarter.
LVMH reported that the Iran war reduced its total group sales by at least 1 percent last quarter.
KEY POINTS
- Mall traffic in the Gulf region, which accounts for 6 percent of LVMH turnover, dropped by 30-70 percent.
- LVMH's core leather and fashion division saw its seventh consecutive quarter of declining revenues, down 2 percent organically.
- Despite global weakness, LVMH's U.S. sales grew organically by 3 percent in the first quarter.
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