LVMH Fashion and Leather Goods Sales Fall 9%

LVMH’s fashion and leather goods sales fell 9 percent in the second quarter, just missing analyst estimates as the Louis Vuitton and Dior owner navigates a deepening industry slump.

Group sales fell 4 percent, following a 3 percent slide the previous quarter. First-half profit dropped 15 percent to €9.01 billion.

After flying high in the wake of the coronavirus pandemic, LVMH has been hard hit by slowing economic growth, particularly in the key Chinese market, as well as the impact of…