LVMH shares rise after luxury giant’s Q1 sales offer element of reassurance
PARIS (Reuters) – LVMH shares rose on Wednesday, after the first quarter sales figures from the world’s largest luxury group offered an element of reassurance to investors concerned about the industry’s outlook, particularly in China.
LVMH shares were up by around 2% in early session trading.
On Tuesday, LVMH reported that sales for the quarter ending in March rose 3% on an organic basis to 20.69 billion euros ($22 billion), matching analyst expectations.
“The market environment is challenging, especially in China, and LVMH was able to navigate it in line with expectations,” said Mario Ortelli, of luxury advisory firm Ortelli & Co.
($1 = 0.9414 euros)
(Reporting by Mimosa Spencer; Editing by Sudip Kar-Gupta)
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.