Read more at The Guardian.
Louis Vuitton owner LVMH reports surprise sales drop amid China slowdown
Shares in LVMH, which also owns Dior, Tiffany and Moët & Chandon, fell by as much as 7%, briefly hitting two-year low
Shares in luxury goods brands slumped after Louis Vuitton’s LVMH reported an unexpected fall in third-quarter sales amid China’s economic slowdown.
Shares in LVMH, which also owns Dior, Tiffany and Moët & Chandon, fell by as much as 7% in early trading, briefly hitting a two-year low, before regaining slightly, after it warned of an “uncertain economic and geopolitical environment”,with falling sales in Asia.
Continue reading...Date: | |
Tag: | China |
Topics
-
Business - The New York Times
Louis Vuitton Owner LVMH Sees Stock Drop on Weak China Sales
Weak sales in China at LVMH, the owner of Dior, Tiffany and more, sent a shudder through the luxury sector.50 minutes ago - China -
Business - The Wall Street Journal
Louis Vuitton Owner LVMH Misses Revenue Expectations
The French luxury empire said the decline in revenue during the quarter was mainly due to lower growth in Japan.Yesterday -
Business - Financial Times
Luxury goods shares fall as China slowdown hits LVMH
Owner of Louis Vuitton and Dior brands reports 16% drop in third-quarter sales in Asia excluding Japan8 hours ago - China -
World - The Guardian
Oil price slides amid China slowdown and easing Middle East fears
Brent crude slides by almost $3.50 a barrel to below $74 after Opec cuts forecasts for demand growth. Business live – latest updates Global oil prices have tumbled by almost $3.50 a barrel ...Yesterday - China -
Business - MarketWatch
LVMH stock falls on slumping luxury sales in China
LVMH Moët Hennessy Louis Vuitton said a slowdown in Chinese spending had hit its third quarter sales10 hours ago - China -
Business - Financial Times
LVMH shares down 7% after warning of ‘uncertain’ outlook
World’s largest luxury group hit by pullback in Chinese consumer spending9 hours ago -
Business - The Wall Street Journal
Coty Joins Competitors in Warning of Beauty Sales Slowdown
The cosmetics company, whose portfolio of brands includes Max Factor and Lancaster, on Monday said retailers are tightening their inventories as mass beauty sales continue to see slow growth ...Yesterday -
Business - MarketWatch
Chrysler and Jeep maker sees North American deliveries dive 36%
Europe’s largest car manufacturer Stellantis reported a 20% drop in shipments and a 15% drop in sales in the third quarter of 20247 hours ago
More from The Guardian
-
World - The Guardian
Revealed: International ‘race science’ network secretly funded by US tech boss
Group promoting ‘dangerous’ scientific racism ideology teamed up with rightwing extremist, recordings reveal. An international network of “race science” activists seeking to influence public debate ...5 hours ago -
World - The Guardian
Russia suspected of planting device on plane that caused UK warehouse fire
Exclusive: Police investigate whether spies placed incendiary package that caught alight in Birmingham. Counter-terrorism police are investigating whether Russian spies planted an incendiary device ...3 hours ago - United Kingdom -
World - The Guardian
US demands proof that Israel does not have starvation policy in northern Gaza
Pressure grows on Israel to allow in more aid, as UN ambassador says US ‘will be watching’ its actions on the ground. Middle East crisis – live updates The US has demanded proof on the ground ...1 hour ago - Israel -
World - The Guardian
Trump vows to ‘end all sanctuary cities’; Harris says ex-president calling himself ‘father of IVF’ is bizarre – US elections live
Trump says he will use executive privilege to enact plan; vice-president says Trump to blame for abortion laws that put IVF treatment at risk in US states. Don’t miss important election coverage. ...22 minutes ago - Donald Trump -
World - The Guardian
Zelenskyy lays out Ukraine ‘victory plan’ which Moscow calls an escalation
Ukrainian president wants ‘unconditional invite’ to join Nato and rules out conceding territory to Russia. The Ukrainian president, Volodymyr Zelenskyy, has laid out details of his “victory plan” ...1 hour ago - Ukraine