LVMH's fashion and leather goods division reported a solid 9% growth, slightly behind Cartier's impressive 12% increase, yet outperforming other luxury brands such as Burberry. The company's Q4 performance was particularly driven by strong sales in the US and a sustained market in Japan, despite concerns about China's economic rebound. Bernard Arnault, CEO of LVMH, expressed an upbeat outlook in the earnings call, highlighting the US market's contribution to the company's momentum going into 2024. European shares, including those of LVMH and spirits maker Remy Cointreau, rose following the announcement of their upbeat quarterly updates, signaling investor confidence in the luxury sector's resilience.
Investors dived back into top luxury shares as LVMH latest sales figures reassured investors about the sector's resilience to economic headwinds https://t.co/dZm6vHk4Qn https://t.co/ZY7CpDp1rP
Luxury stocks soaring in Europe after LVMH strong numbers Lonza, Sartorius, Remy Cointreau also up double digits on reports
⚠️ EUROPEAN SHARES RISE ON STRONG RESULTS FROM LVMH, REMY COINTREAU (Reuters) European equities opened higher on Friday, boosted by upbeat quarterly updates from luxury group LVMH and spirits maker Remy Cointreau, while investors gauged interest rate cut prospects, a day… https://t.co/LDFvPgn6vO
Arnault is usually upbeat but this message on 2024, continuing on from robust 2023 is a lot more upbeat than market expected. He highlights the US as a key source of upside. LVMH clearly ended 2023 with more momentum than it expected. $LVMUY #luxury https://t.co/0dfh7uXPV3
In today's earnings call, Bernard Arnault wasn't shy about stressing just how much he admires Cartier & Van Cleef. No smoke without any fire in the past, clearly. $CFRUY $LVMUY #luxury https://t.co/H5rmZj502y
Fear on luxury is focused on strength of China rebound. But efforts to diversify post Covid paying off. China ok so far but at both Cartier & LVMH, US drove Q4 upside confounding analysts with recovery, while Japan still strong. $LVMUY $CFRUY $TPR $EL $HESAY https://t.co/w0NndOqfUA
Not as sparkling as Cartier's +12%, but +9% at LVMH fashion & leather is solid, good enough vs fears & in complete contrast to Burberry etc. Iconic luxury brands are leaving others behind in the dust. $LVMUY $CFRUY $HESAY $BURBY $CPRI $RL $XLY $RACE https://t.co/cJsAqtcLCn