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0.000261825798568571 -0.00161459242450704 0.00122185372665375 0.000785477395705963 -0.00611363239657885 -0.00663292023040675 -0.00893786001047307 -0.0100366556117997
Stock impact report

LVMH stock drops as analysts flag luxury recovery ‘party postponed' amid Iran war Stock chart icon LVMH Moet Hennessy Louis Vuitton SE MC-FR : Euronext Paris 473.00 -8.75 ( -1.82% ) Last |...

LVMH-MOET H/L/V UNSP/ADR (LVMUY) 
NASDAQ:AMEX Investor Relations: lvmh.com/investors
Company Research Source: CNBC
The luxury sector had begun to show signs of recovery after a years-long slump prompted by soft demand from Chinese consumers, formerly one of the sector's main growth drivers. Even if results were better than a year ago, “this is likely not enough to convince investors to step off the fence,” Bernstein analyst Luca Solca said. In this article A sign on the exterior of a Louis Vuitton luxury boutique operated by LVMH Moet Hennessy Louis SE is pictured in Paris, France, January 25, 2024. Shares of LVMH dropped Tuesday after it flagged a hit to sales from the Iran war, overshadowing underlying improvements. The luxury conglomerate missed sales expectations with organic growth in the quarter amounting to 1%. LVMH also flagged a 1% negative impact from the Iran war in the quarter. “When the conflict started, and in the month of March, there was a shortfall and a deterioration of demand between 30% and 70%, depending on the malls, depending on the businesses,” LVMH CFO Cécil Show less Read more
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