Luxury fashion stocks are soaring after LVMH, the parent company of Louis Vuitton and Moët, revealed better than expected sales for the third quarter. Investors feared the Hong Kong protests would dry up luxury brands' sales, but the strong showing by LVMH, a bellwether for fashion brands, suggested otherwise. LVMH climbed 4.6%, Hermes rose 3.4%, and Gucci-parent Kering rose 5.3%. View Markets Insider's homepage for more stories.
Luxury fashion stocks are soaring after LVMH, the parent company of Louis Vuitton and Moët, revealed better than expected sales for the third quarter. Investors feared the Hong Kong protests would dry up luxury brands' sales, but the strong showing by LVMH, a bellwether for fashion brands, suggested otherwise. LVMH climbed 4.6%, Hermes rose 3.4%, and Gucci-parent Kering rose 5.3%. View Markets Insider's homepage for more stories.