2024-07-25 14:43:10 ET
Summary
- LVMH reported expectedly weak interim results yesterday, further confirming the ongoing slowdown in the luxury market.
- Despite weakness in reported revenues and profits, however, pockets of positivity exist. Organic revenue managed to grow, margins are still strong and the US market is resilient.
- Further price drop will soon make LVMH attractive once again. For now though, further erosion of investor capital is likely.
Luxury fashion major LVMH’s ( LVMUY ) ( LVMHF ) interim results (H1 2024) released yesterday were bad. Hardly a surprise. Weakness was already foreshadowed by its first quarter (Q1 2024) sales update, resulting in a Sell rating on the stock. Since then, its price has tumbled by 17%....
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LVMH: Expectedly Disappointing, But There Could Be Upside Ahead