LVMH Shares Take a Dive Following Disappointing Financial Results

In a surprising turn of events, LVMH Moet Hennessy Louis Vuitton, the French luxury goods giant, saw its shares plummet by over 5% this Wednesday. This sharp decline came in the wake of the company's announcement of its full-year financial results, which fell short of market expectations.

Net Profit and Revenue Decline

The company disclosed a 17% drop in its net profit for fiscal 2024, amounting to €12.6 billion. Furthermore, LVMH's revenue also took a hit, decreasing by 2% to €84.7 billion compared to the previous year. This downturn has raised concerns among investors and market analysts about the luxury sector's resilience in the face of global economic challenges.

Stock Performance

By 9:36 am CET, LVMH's stock had fallen by 5.61%, trading at €708.50 per share. This significant drop reflects the market's reaction to the company's financial health and future prospects.