The news: LVMH had a challenging Q3 amid softening global demand for luxury.
- Organic revenues fell 3% year over year (YoY) to €19.08 billion ($20.65 billion), falling short of Visible Alpha’s consensus estimate for 0.9% YoY organic growth and €19.94 billion ($21.58 billion) in revenues.
- US sales were flat YoY during the quarter, while Europe sales rose 2% YoY and Asia sales (excluding Japan) fell 16% YoY.