LVMH, the world's largest luxury-goods company, announced a third-quarter revenue of 19.08 billion euros ($20.82 billion), falling short of market expectations of 19.94 billion euros.
The company, led by billionaire Bernard Arnault, experienced a 3% organic decline in revenue compared to the previous year. The core fashion and leather goods division, which includes brands like Louis Vuitton and Dior, generated 9.15 billion euros, missing forecasts of 9.67 billion euros.
The revenue drop was attributed primarily to reduced growth in Japan, influenced by a stronger yen. Despite Japan's previous status as a growth area for luxury brands, analysts from JPMorgan warned that recent price increases and currency fluctuations could dampen future sales.