LVMH Sales Fall Again After Demand Slumps in Japan, China

LVMH sales fell as shoppers reined in purchases of costly Louis Vuitton bags and Dior jackets, a sign the luxury titan remains stuck in its post-pandemic slump.

Revenue at the French group’s fashion and leather goods division, its largest unit, dropped 9% on an organic basis in the second quarter, LVMH Moët Hennessy Louis Vuitton SE said in a statement Thursday. That was worse than analysts’ estimates for a 7.8% drop.