LVMH shares plummet 7% as fourth-quarter results lag competitors [CNBC]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
NASDAQ:AMEX Investor Relations:
lvmh.com/investors
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Source: CNBC
In this article Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, speaks during a press conference to present the 2023 annual results of LVMH in Paris, France, January 25, 2024. Benoit Tessier | Reuters LVMH shares plummeted over 7% in morning trading Wednesday after the French luxury conglomerate reported mixed full-year earnings late Tuesday. Organic revenue grew by 1% in the fourth quarter , flat from the same period a year earlier. Over the full year, revenue declined 1%. Shares were last seen 7.7% lower. Investors had expected stronger numbers. “With peers such as Richemont, Burberry, and Cucinelli reporting solid QoQ improvements and beating expectations, the bar had moved slightly higher,” Citi analysts said in a note. This is a breaking news story. Please refresh for updates.
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