LVMH Posts a Widely Anticipated Slowdown

Dow Jones
10/13

1032 GMT - LVMH's results reflect the slowdown already expected by the market, but there are some reassuring messages, analysts at UBS say in a note. The luxury behemoth made sales of 18.50 billion euros for the quarter ended September. That was up 1% from the same period last year but slowing from the 3% increase the company booked over the second quarter. Comments during the earnings call give cause for optimism, with management highlighting improving trends at the end of the quarter, as well as urgency around self-help measures to revamp brands, the analysts say. Shares are down 1.5%.

 

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