LVMH has released its financial results for the third quarter and the first nine months of fiscal 2024, revealing a 3 percent decrease in sales during the third quarter compared to the same period last year. Only the Perfumes & Cosmetics and Selective Retailing segments reported growth.
For the nine months ending September 30, total sales fell by 2 percent, reaching €60.753 billion. On a reported basis, Perfumes & Cosmetics experienced a 2 percent increase, while Selective Retailing saw a modest 1 percent rise.
The luxury giant attributed the slight decline in the third quarter to slower growth in Japan, influenced by a stronger yen. Despite the challenges, LVMH emphasized that its results demonstrate “good resilience” in the current market landscape.
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