PARIS (Reuters) – LVMH shares slid lower on Tuesday after the world’s largest luxury group posted first quarter revenues that undershot expectations.
LVMH shares were down 5.2 percent in early session trading, dragging down the shares of rival luxury goods companies such as Kering and Hermes.
On Monday, LVMH reported a 3% decline in first-quarter sales – well below analyst expectations for 2% growth – which gave a first sign that luxury companies could face another tough year following President Donald Trump’s recent tariff announcements, which sparked fears of a recession.
(Reporting by Mimosa Spencer and Tassilo Hummel; Editing by Sudip Kar-Gupta)
