Luxury Stocks Drop After LVMH Results Confirm Weaker U.S. Demand

“Management is satisfied with the results even though they did not beat consensus. This hints at the start of an ‘investment style transition’ for the luxury goods sector, from chasing momentum and positive surprises, to ‘steady state,’ as consumer demand starts to normalize,” he said in a research note.

Sales of fashion and leather goods to Chinese consumers were up between 40 percent and 45 percent in the first half of 2023 compared with the same period in 2021, said LVMH chief financial officer Jean-Jacques Guiony, explaining that he did not consider 2022 a reliable basis for comparison because of the widespread disruption caused by COVID-19 lockdowns.

“LVMH remains the best-in-class compounder with balanced risk/reward exposure to luxury and premium staples, in our view,” said Piral Dadhania, analyst at RBC Capital Markets.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

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.
Herkunft: RobbReport - 🏆 309. / 63 Weiterlesen »

LVMH earnings suggest luxury spending is suddenly slowing in the U.S.LVMH sales rose in Asia and Europe, but the luxury goods company struggled in the U.S. during the second quarter.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

European stocks lower; LVMH weighs ahead of Fed rate decision By Investing.com⚠️BREAKING: *EUROPEAN SHARES SINK ACROSS THE CONTINENT; FRANCE'S CAC 40 DOWN ALMOST 2% 🇪🇺🇩🇪🇫🇷🇮🇹🇳🇱🇪🇸
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »