Shares in LVMH Fall Due to Slowing Demand in China

Shoppers in China aren’t buying as many luxury goods as they once did, and it’s hitting some companies—and potentially the high-end sector—hard.

Shares in LVMH dropped on Wednesday, following less-than-stellar financial results announced by the luxury conglomerate the day prior, The New York Times reported. The high-end powerhouse—which owns brands such as Tiffany & Co., Dior, Louis Vuitton, and more—said sales fell 3 percent last quarter, when compared with the…