LVMH Revenue Falls 2% in Q1 as Luxury Slowdown Hits Champagne and Jewelry Sales [Yahoo! Finance]
KERING SA UNSP/ADR (PPRUY)
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Source: Yahoo! Finance
Overall group sales were down 2 percent at actual exchange rates to 20.69 billion euros in the three months ended March 31, following a 5.5 percent increase in the previous three months. More from WWD Donna Langley Wins Kering's 2024 Women in Motion Prize Ginori 1735 Fetes the Diva Collection in Milan A Basquiat x Warhol Painting and a Virgil Abloh-designed Trunk Are Among the Special Items LVMH Is Showcasing for the Paris 2024 Olympics This represented a rise of 3 percent on a like-for-like basis, down from the 10 percent recorded in the fourth quarter, but in line with market expectations. Organic sales at LVMH's key fashion and leather goods division were up 2 percent, following a 9 percent increase in the fourth quarter, also matching the consensus forecast from analysts. The watches and jewelry segment reported a 2 percent decline in like-for-like sales, while the wines and spirits division saw a 12 percent drop. Bucking the overall trend were perfumes and cosmetic
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