Shares in French luxury giant LVMH (LVMH.PA) fell more than 6 per cent on Wednesday and were on track for their biggest one-day drop since October 2023 after its second-quarter sales growth missed consensus estimates.
The world’s biggest luxury group on Tuesday reported its quarterly sales rose 1 per cent year on year to 20.98 bln euros ($22.76 bln), undershooting the 21.6 billion expected by analysts polled by LSEG analysts.
The earnings miss also weighed on other luxury stocks...