World’s largest luxury group LVMH slumps 5% after second-quarter revenue miss

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.

Source

World

Stock futures little changed ahead of Nvidia earnings: Live updates

August 27, 2025

Traders work on the floor at the New York Stock Exchange in New York City, U.S., August 26, 2025. Brendan McDermid | Reuters Stock futures were flat early Wednesday as investors turn their eyes to Nvidia earnings, which could be a make-or-break moment for the bull market. Futures tied to the Dow Jones Industrial Average, […]

World

Putin acts like he doesn’t care about peace. Russia’s economy could depend on it

August 27, 2025

In this pool photograph distributed by the Russian state agency Sputnik, Russia’s President Vladimir Putin meets with German Gref, the CEO of Russia’s largest Sberbank, in Moscow on July 29, 2025. Mikhail Metzel | Afp | Getty Images Russia’s beleaguered economy, with its slowing growth and widening budget deficit, could be one push-factor when it […]

World

Australia’s consumer prices spike in July as electricity costs surge

August 27, 2025

On a rainy winter night at George Street, two trams stopped and a person was walking across. The retail street was brightly illuminated. Wenyi Liu | Moment | Getty Images Australian consumer prices jumped by far more than forecast in July as electricity prices spiked due to the timing of government rebates, which has injected more volatility into this year’s series. The Australian […]