MC-FR 5D line LVMH sharep price. Shares of luxury giant LVMH were down 7% at the open after the company reported 14% revenue growth for the first nine months of 2023, down from 20% in the same period in 2022. Multiple analysts cut target prices on the stock following the report after the market close Tuesday.
All LVMH sectors grew except wine and spirits, which it said suffered from a high basis of comparison and waning demand from the U.S. and CHina. 'After three roaring years, and outstanding years, growth is converging toward numbers that are more in line with historical average,' LVMH chief financial officer Jean-Jacques Guiony told analysts, according to Reuters. — Jenni Reid