FOSL - Capri luxury fashion stocks gain after positive LVMH earnings

Capri Holdings (CPRI +3.1%) trades up alongside LVMH (OTCPK:LVMUY +1.9%) after the latter posts better than expected Q3 earnings. The strength of the luxury clothing retailer's fashion and leather-goods division comes at a time when analysts voiced concerns about demand in China for luxury goods after Beijing's crackdown on Macau. Shares of LVMH are up nearly 50% over the past year, but slipped 6% in the past month due to the China worries. Capri also fell 15% in September after more than doubling since October 2020. LVMH is the first European luxury brand to report earnings. Peers Kering (OTCPK:PPRUY +1.9%), Burberry (OTCPK:BURBY -0.1%), Hermés (OTCPK:HESAY +2.5%), and Richemont (OTCPK:CFRHF +0.5%) will report before European markets open Wednesday. Other luxury gainers include Fossil Group (FOSL +3.4%), Ralph Lauren (RL +3.5%), Tapestry (TPR +2.6%), and Movado Group (MOV +2.4%). Read an analysis by Silver Coast Research covering how China's increasing regulation could impact

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Capri, luxury fashion stocks gain after positive LVMH earnings