LVMH Sales Decline Unexpectedly
This is a U.S. news story, published by CNBC.
U.S. news
For more U.S. news, you can click here:
more U.S. newsNews about Europe business & economics
For more Europe business & economics news, you can click here:
more Europe business & economics newsCNBC news
For more news from CNBC, you can click here:
more news from CNBCAbout the Otherweb
Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about Europe business & economics, you might also like this article about
sharpest revenue decline. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest Luxury brands news, quarter sales news, news about Europe business & economics, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
unexpected declineCNBC
•Business
Business & Economics
Luxury bellwether LVMH drops 8% on sales miss, dragging peers down
85% Informative
Shares of LVMH plunged 7% on Tuesday morning after the world's largest luxury group posted an unexpected decline in first-quarter sales.
Sales were "overall below the most conservative buyside expectations," Citi analysts said.
Wines and spirits saw the sharpest revenue decline, down 9% , as it flagged weaker demand in the U.S. and China for cognac.