LVMH tumbles as French luxury group’s sales growth slows

French luxury group shows evidence that inflation and economic turmoil are curbing a post-pandemic spending spree

LVMH’s shares slumped on Wednesday to their lowest level since December after the French luxury group reported slower third-quarter sales growth, providing evidence that inflation and economic turmoil are curbing a post-pandemic spending spree.

LVMH is facing slowing demand for high end goods in the United States and Europe, where rising prices have prompted shoppers — especially younger generations — to pull back from a post-pandemic spending spree, while the recovery in China has been uneven. “Our lowered forecasts reflect softer H2 momentum and normalised growth in outer years,” Berenberg added.

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