Pursuits
LVMH Falls in Paris as Fashion and Leather Goods Sales Slow
- Revenue at division rises 3 percent, missing analyst estimate
- Louis Vuitton brand slowed down in U.S., China, analyst says
A branded leather fob hangs from a hand bag at a LVMH Moet Hennessy Louis Vuitton SA luxury retail store in Toulouse, France.
Photographer: Balint Porneczi/BloombergThis article is for subscribers only.
LVMH fell in Paris trading after reporting third-quarter fashion and leather goods sales that trailed analysts’ estimates amid softening demand in China.
Revenue at the division that includes Louis Vuitton handbags and Marc Jacobs dresses rose 3 percent on an organic basis, trailing the 6 percent median of analysts’ estimates. The shares fell 2.9 percent to 161.75 euros as of 9:03 a.m. in the French capital.