LVMH’s actions fall 6% as the results of the whole year throw doubts about a wide luxury recovery

LVMH’s actions retired on Wednesday after the slightly better annual results of the hope of the world’s largest luxury company showed doubts about a broader recovery in the luxury sector.

The owner of the brands, including Louis Vuitton, Moët & Chandon and Hennessy, Published income of 84.68 billion euros ($ 88.27 billion) by 2024, exceeding 84.38 billion euros predicted by LSE analysts and equating the organic growth of 1% versus the previous year.

LVMH’s shares fell 5.79% at 8:38 am, London time. Companions of Luxury Products Existence Dry and Christian Dior fell 6.65% and 5.71%, respectively.

Investors have been looking for an additional confirmation of a recovery in the luxury sector after the owner of Cartier Richemont He reported his “highest” quarterly sales figure during the festive purchase period. However, the decrease in sales in critical fashion and leather articles of LVMH and wines and spirits indicated the continuous pressure within the group.

LVMH attributed on Tuesday its income growth to a solid demand within its selective retail division, which includes the medorist Sephora, and perfume and cosmetics. Growth was also widely driven by consumers in the United States, Europe and Japan, while the widest region of the Pacific in Asia, and especially China, was delayed.

The French giant of luxury goods is considered as a great route for the broader luxury industry, which has faced significant pressure in recent years in the midst of the decrease in China’s sales and the wider and broader winds.

LVMH shares currently increase around 14% in the year in which they will be held. Earl this month, the group surpassed the Danish pharmaceutical giant Novo Nordisk To recover the title of the most valuable company in Europe.