LVMH Reports 1% Organic Sales Growth as China Demand Weakens

LVMH posted third-quarter revenue of €18.50 billion as organic sales growth slowed to 1%, with weaker demand in China contributing to the deceleration from the previous quarter. Revenue narrowly exceeded the €18.46 billion consensus estimate. Organic sales growth was 3% in the second quarter. Performance in the U.S., Europe and Japan offset weaker demand in China during the quarter. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.

Source: TokenPost