The logo of LVMH is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS
Jan 29 (Reuters) – Shares in LVMH fell in early Frankfurt trading on Wednesday, as sales growth posted by the luxury goods group failed to impress investors, following a string of strong results from rivals and recent price gains.
“With luxury peers (Richemont, Burberry, Cucinelli, Zegna) having reported significant QoQ sales improvement and beats vs. expectations, the bar for LVMH had undeniably increased in recent weeks,” wrote Citi analyst Thomas Chauvet.
“The ~2% beat on 4Q24 group and Fashion & Leather sales is probably not enough to call this an inflection point”.
LVMH shares opened down 3.5% in early Frankfurt trading compared to their close on Euronext on Tuesday. The stock has risen over 30% from its November lows.
Reporting by Danilo Masoni; Editing by Amanda Cooper
