By Andrea Figueras
French luxury major LVMH posted revenue below analysts’ views for the first quarter and noted that the geopolitical and economic environment remains disruptive, as a trade war in two of the sector’s largest markets takes center stage.
The conglomerate owned by billionaire Bernard Arnault said Monday that it booked revenue of 20.31 billion euros ($23.08 billion) for the first three months of the year, 3% lower organically than in the prior-year period.
The group’s core fashion and leather goods business, home to brands including Louis Vuitton and Dior, logged sales of 10.11 billion euros, down 5% organically on year.
Analysts had forecast group revenue of 21.21 billion euros and of 10.57 billion euros for the fashion and leather goods division, according to a poll of estimates compiled by Visible Alpha.
The growth rate in total revenue showed a deceleration compared with the previous quarter, when the company achieved organic growth of 1%.
Write to Andrea Figueras at [email protected]
(END) Dow Jones Newswires
04-14-25 1231ET
