From Morningstar: 2024-10-18 06:17:00

Shares of luxury giant LVMH dropped almost 7% after disappointing Q3 sales, impacting France’s CAC 40 index. Sales were €19.08 billion, down from €19.96 billion last year. The Fashion & Leather Goods division saw the most decline, with a 16% drop in Asian sales. Chinese consumer confidence has dwindled, impacting luxury spending.

Morningstar maintains a Fair Value Estimate of €650 for LVMH stock, despite weak sales. The stock is currently trading at €607.20 and offers a quarterly dividend of 3.25 cents. Chinese consumer concerns post-pandemic have led to reduced spending on luxury goods. Japan saw continued double-digit sales growth for LVMH amidst challenging global market conditions.



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