LVMH Sales Slip Shows Impact of China Weakness, Frugal Consumer

KEY TAKEAWAYS LVMH's second-quarter results, with tepid sales disappointing investors, showed that the pullback by consumers on high-end items and cooling Chinese spending is affecting even the world's largest luxury firm. The company, whose brands include Dior and Louis Vuitton, reported Q2 year-over-year organic revenue growth of just 1% to 20.98 billion euros. LVMH's weak sales dragged other luxury brands, with trench coat maker Burberry, Gucci owner Kering, and Cartier owner Richemont among those lower ...