LVMH Shares Fall on 1st Half Performance, Drag Luxury Sector With Them
26 7월 2023 - 4:59PM
Dow Jones News
By David Sachs
Shares in LVMH fell Wednesday after the French luxury goods
company reported slower growth a day prior.
At 0719 GMT, shares in LVMH were down 3.8% to EUR821.40.
The world's largest luxury goods conglomerate posted higher
earnings overall but U.S. revenue fell after recent highs, which
Bernstein analysts said signals a more steady market for luxury
goods following a boom.
In early trading, stocks across the sector were down. Prada,
Swatch, Kering, Salvatore Ferragamo, Brunello Cucinelli and Hermes
International were among the companies opening with lower share
prices.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
July 26, 2023 03:44 ET (07:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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