LVMH shares plummet 7% as fourth-quarter results lag competitors [MSNBC.com]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: MSNBC.com
In this articleBernard 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 | Reutersfourth-quarter sales beatLVMH shares were last seen 7.5% lower, while rival Gucci-ownerKeringInvestors had expected stronger numbers. "With peers such asRichemontBurberryCucinelliTalking to investors, CEO Bernard Arnault warned that "2026 won't be simple," and that geopolitical factors may weigh on luxury players' outlook."I always say that in our businesses, I am optimistic in the medium-term but short term it is very difficult to provide a serious forecast," Arnault said on Tuesday. "So many events and the pace of decisions taken left and right in the various countries, it is extremely difficult to control all these geo-economic impacts on our companies."watch nowVIDEO4:5604:56LVMH tops sales estimates, but flags uncertain outlookSquawk Box EuropeLVMH's key fashion
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