LVMH Shares Fell Most Ever in First Quarter on Luxury Slump
LVMH is due to report first-quarter revenue later this month.
Photographer: Samsul Said/BloombergShares in LVMH have had their worst start to a year on record, as the impact of war in the Middle East clouds the global economic outlook and intensifies demand headwinds for luxury goods.
The stock fell 28% in the first quarter, the most of any major European luxury firm. The performance was worse than during the global financial crisis of 2008-2009, the Covid-19 pandemic in 2020 and the Dot-com bubble of 2001, a Bloomberg analysis going back to 1989 showed. It also reflects the disruption to travel and tourism on which sales of the priciest items are so dependent.