Hermès has surpassed LVMH to become France's most valuable company after LVMH reported a 3% decline in first-quarter sales, missing analyst forecasts. While LVMH's valuation fell due to sliding sales and a turbulent luxury market, Hermès' stock experienced a 2% rise. This shift highlights the volatility in the luxury sector, exacerbated by Chinese consumer spending cuts and economic uncertainties. Analysts have reduced LVMH's earnings forecasts, predicting ongoing challenges for the luxury brand, while Hermès continues to thrive, indicating a significant transformation in market leadership.
Hermès has surpassed LVMH's valuation as the luxury sector faces a downturn, marking a significant shift in France's corporate landscape amidst disappointing earnings.
LVMH's disappointing 3% decline in sales has left analysts warning of continued earnings downgrades, impacting investor sentiment and the luxury sector's dynamics.
Collection
[
|
...
]