People are walking by the Louis Vuitton storefront building in Lisbon, Portugal, on July 21, 2024.
Luis Boza | Nurphoto | Getty Images
Shares in the world’s largest luxury group LVMH fell on Wednesday after its second-quarter sales came in below analyst consensus on Tuesday.
Quarterly sales came in at 20.98 billion euros ($22.7 billion) in the second quarter, compared to the 21.6 billion euros LSEG analysts were expecting.
LVMH shares were last down by 5.3% at 9:04 a.m. London time. Other luxury sector stocks, including Gucci-owner Kering which is set to report earnings on Wednesday, also retreated.
This is a developing story, please check back for updates.