LVMUY Stock Recent News
LVMUY LATEST HEADLINES
Did you know that most major luxury stocks have consistently outperformed the market in recent years? The industry's strongest brands have benefited substantially from a growing number of affluent consumers willing to spend generously on brands renowned for their quality, refinement, and overall prestige.
Luxury brands are all-in with artificial intelligence technology (AI) and the ways it will revolutionize business. While luxury brands by and large dragged their feet in the e-commerce digital revolution, they aren't about to let that happen again with AI.
Two of LVMH Chairman and CEO Bernard Arnault's sons and heirs were named to the board of the luxury goods conglomerate on Thursday, reinforcing the family's hold on the sprawling empire which spans fashion, jewellery and hotels.
Diageo can take little comfort from LVMH's trading update, according to brokers at UBS. "Overall, we think the topline results are a negative read-across for the European Spirits stocks," said the Swiss bank.
CNBC's Melissa Lee reports on the latest news.
Chinese tourists saved the day for Louis Vuitton Moet Hennessy (EPA:MC), analysts said, noting that 10% growth in the quarter was driven by very strong growth in offshore purchases in Japan and Europe. Overall first-quarter sales were weaker than analysts expected at 3%.
Shares in Louis Vuitton Moet Hennessy (LVMH) strutted higher as the European luxury group reported a soft start to 2024, let down by jewellery, spirits and champagne, though not as bad a quarter as many investors had expected. The shares had fallen 10% since mid-March from above $900 to €781 earlier in the week, but sashayed 5% higher to €819.60 on Wednesday.
Javier Gonzalez Lastra, Investment Partner and Portfolio Manager at Tema Luxury ETF, discusses earnings from LVMH.
LVMH Moet Hennessy Louis Vuitton shares increased 3% on Wednesday after the company posted an increase in its organic revenues in the face of a slowdown in demand for sparkling wine and jewelry that has hit the firm's main rivals in the luxury sector.
Luxury group LVMH saw a slowdown in sales at the start of the year, as wealthy consumers reined in spending on pricey Louis Vuitton handbags and Hennessy Cognac. The pace of growth was the slowest for a first quarter since 2016 — excluding 2020, when Covid-19 lockdowns shut down economies worldwide.