LVMH Q3 Revenue Falls 3% To €19.08 Billion
LVMH Group, reported its third-quarter 2024 revenue at €19.08 billion, down 3% year-over-year and below analyst expectations of €20.05 billion. Year-to-date revenue from January to September remained unchanged at €60.8 billion. Analysts noted that LVMH’s sales fell short across all segments.
The fashion and leather goods division, which includes brands like Louis Vuitton and Dior, generated €9.15 billion, a 5% decline from the previous year and below forecasts of €9.67 billion—marking the first revenue drop since Covid-19. Wine and spirits organic sales decreased by 7%, compared to an expected 2.41% decline. The perfume and cosmetics segment saw a 5% growth.
Regionally, organic revenue in Asia (excluding Japan) fell by 16%, worse than the anticipated 13.8% drop, while the US market remained flat, below the expected 3% increase. Japan experienced 20% growth, but this was significantly lower than the 57% growth seen in the previous quarter.
LVMH’s CFO Jean-Jacques Guiony acknowledged slight sales improvements in Europe and the US, but noted poor performance in China and Japan, attributing these trends to broader economic challenges across most markets.
