LVMH earnings suggest luxury spending is suddenly slowing in the U.S.

📆 26/07/2023 12:09:00
📰 CNBC

⏱ Reading Time:
14 sec. here
2 min. at publisher
📊 Quality Score:
News: 9%
Publisher: 72%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

LVMH sales rose in Asia and Europe, but the luxury goods company struggled in the U.S. during the second quarter.

on Tuesday reported a surprising drop in U.S. sales in the second quarter, as its chief financial officer said "aspirational customers are not shopping as much as they used to."

"If we assume that that group was benefitting from subsidies during COVID, those come to an end at some point," he said. LVMH reported a similar shift in spending last year, when Americans returned to Europe en masse, partially cannibalizing sales in the U.S.

Escrever Comentário

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

LVMH’s Latest Sales Figures Suggest the U.S. Luxury Market Could Be WeakeningThere was a surprising drop in LVMH's U.S. sales last quarter, but the company still saw strong performance in China.
Fonte: RobbReport - 🏆 309. / 63 Consulte Mais informação »