business / news / / Reuters
Global quarterly sales at the owner of brands including Louis Vuitton and Dior, Bulgari jewellery and Hennessy, rose by 1% when adjusted for currency swings.
LVMH's quarterly sales rose only 1% organically, missing analyst expectations of 1.5%.
KEY POINTS
- The Middle East conflict directly reduced LVMH's total group sales by about 1%.
- Dubai mall sales dropped up to 50% since the war began, sharply reducing regional profitability.
- LVMH's fashion and leather division saw its seventh consecutive quarter of declining revenues.
- LVMH shares have fallen 26% year-to-date, ranking among Europe's worst large-cap performers.
COMPANIES
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