Overview
- LVMH reported 1% organic sales growth in Q3, its first increase this year, with revenue of €18.3 billion that topped expectations.
- The fashion and leather goods division fell about 2% to €8.5 billion, improving from prior quarters but remaining the main pressure point.
- Management said mainland China turned positive and Asia excluding Japan improved, while the U.S. rose 3%, Europe declined and Japan dropped 13%.
- Selective retailing grew 7% with Sephora delivering a strong performance, and wines and spirits posted a recovery after prior declines.
- LVMH shares jumped roughly 13–14% and added nearly US$80 billion to European luxury market value, as the company flagged Q4 currency and macro headwinds and investors await results from Kering, Hermès and Richemont.