LVMH sends mixed signals about luxury spending in China

Texas News Today

Aspiring consumers around the world continue to receive Louis Vuitton handbags in record numbers. However, the latest results from brand owner LVMH didn’t give investors all the answers they wanted.

After the market closed in Paris on Tuesday, LVMH Moet Hennessir Iviton said sales rose 20% year-on-year in the three months to September. Even more striking, sales were up 11% in the period compared to pre-pandemic 2019. Business slowed in some sectors after the second quarter bumper, but overall demand remains strong. LVMH’s US sales increased 22% year-over-year. Shares were down just 2% on Wednesday in early 2019 European trading.

LVMH sends mixed signals about luxury spending in China

Source Link LVMH sends mixed signals about luxury spending in China

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