LVMH Faces Financial Setback

In a surprising turn of events, LVMH Moet Hennessy Louis Vuitton, the French luxury goods powerhouse, witnessed a significant drop in its share price. On Wednesday, the company's stocks fell by over 5% following the announcement of its full-year financial results for 2024, which did not meet market expectations.

Disappointing Financial Results

The detailed financial report revealed a 17% decrease in net profit, amounting to €12.6 billion, alongside a 2% decline in revenue, which stood at €84.7 billion compared to the previous year. This downturn has raised concerns among investors and market analysts about the company's current financial health and future growth prospects.

Market Reaction

By 9:36 am CET, LVMH's stock price had plummeted to €708.50 per share, marking a 5.61% decrease. This sharp decline reflects the market's immediate reaction to the financial results, underscoring the challenges faced by the luxury goods sector in a fluctuating global economy.