LVMH Moet Hennessy Louis Vuitton posted sales below analysts' expectations for the third quarter as the luxury-goods industry grapples with inflation and high interest rates that are squeezing consumer spending.
The world's largest luxury goods conglomerate said sales climbed to 19.96 billion euros in the three months to the end of September, up 9% on an organic basis from the previous year. Analysts had forecast sales of EUR20.48 billion, according to FactSet.