Why LVMH Moët Hennessy-Louis Vuitton Stock Flopped Today
Luxury goods purveyor LVMH Moët Hennessy-Louis Vuitton's (OTC: LVMUY) stock wasn't feeling like much of a luxury for investors on Tuesday. Following the company's publication of its latest set of quarterly and annual results, they traded out of the shares, leaving them with a more than 2% loss on a day when the S 500 (SNPINDEX: ^GSPC) pushed into the black, with a rise of almost 1%.
The fourth quarter saw LVMH book 23.9 billion euros ($25.1 billion) in total revenue, which was essentially flat year over year.
Zooming out to the entirety of 2024, LVMH earned nearly 84.7 billion euros ($88.8 billion); however, that was down by 2% from the 2023 tally. In terms of product categories, the largest one, fashion and leather goods, slumped by 3% to slightly over 41 billion euros ($43 billion) for the year. On the downside, the biggest laggard was wines and spirits, with an 11% slump to less than 5.8 billion euros ($6.1 billion).
Source Fool.com
