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Benzinga
  • 4 hours ago
LVMH reported the Iran war reduced group sales by at least 1% in Q1, citing lower Gulf spending and fewer European tourists. Currency-adjusted sales grew just 1%, below the 1.5% estimate. Mall traffic in the Middle East fell 30–70%, with Dubai sales down 50%. U.S.-listed shares fell 3.75% and Kering dropped 1.5%. LVMH shares are down 26% this year.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:03LVMH said the Iran war reduced total group sales by at least 1% in the last quarter
00:08due to lower spending in the Gulf and fewer tourists in Europe, according to Reuters.
00:13The luxury retailer's first quarter report is expected to raise investor concerns about
00:18the Gulf conflict's impact on a recovery in the $400 billion luxury industry.
00:23U.S.-listed shares fell 3.75%, and Kering's shares dropped 1.5%.
00:29The company reported 1% currency-adjusted sales growth, below estimates of 1.5%.
00:35Mall traffic in the Middle East fell between 30% and 70%, with sales in Dubai down as much as
00:4150%.
00:42Europe's sales declined 3%.
00:45Shares have fallen 26% this year.
00:47Analysts still expect luxury growth in 2026, while the company said most regions improved,
00:52excluding the war's impact.
00:54For all things money, visit Benzinga.com.
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