Why LVMH Moët Hennessy -- Louis Vuitton Stock Got Slammed Today
A weaker-than-expected revenue report was the news item driving down LVMH Moët Hennessy -- Louis Vuitton's (OTC: LVMUY) American depositary shares (ADS) on Monday. The luxury goods maker saw its ADS price sag by more than 6% as a result, contrasting unfavorably with the S&P 500 index's 0.8% increase on the day. On Sunday, LVMH published details of its first-quarter revenue, showing that its total top line for the period was just over 20.3 billion euros ($23.1 billion). That figure was down by 3% on a year-over-year basis. It also failed to reach the consensus analyst estimate of $24.1 billion. The slump mirrored the performance of most of the company's divisions. Fashion and leather goods, by far its most significant in terms of revenue, was buffeted by a 5% decline from the first-quarter 2024 result, bringing in $11.5 billion.Continue reading
A weaker-than-expected revenue report was the news item driving down LVMH Moët Hennessy -- Louis Vuitton's (OTC: LVMUY) American depositary shares (ADS) on Monday. The luxury goods maker saw its ADS price sag by more than 6% as a result, contrasting unfavorably with the S&P 500 index's 0.8% increase on the day.
On Sunday, LVMH published details of its first-quarter revenue, showing that its total top line for the period was just over 20.3 billion euros ($23.1 billion). That figure was down by 3% on a year-over-year basis. It also failed to reach the consensus analyst estimate of $24.1 billion.
The slump mirrored the performance of most of the company's divisions. Fashion and leather goods, by far its most significant in terms of revenue, was buffeted by a 5% decline from the first-quarter 2024 result, bringing in $11.5 billion.
