ENXTPA:MCLuxury
LVMH (ENXTPA:MC) Stock Finds Support In Margins As Revenue Slows
LVMH entered this earnings print with the stock down about 5% over the past month and almost flat over the last week, a sign that investors were cautious on luxury demand. The headline today is that profit power held up better than the share price mood suggested. Revenue in the first half came in at €38.6b with organic growth of 2% and profit from recurring operations reached €8.7b, helped by a 22.5% group operating margin.
The key emotional fault line is clear. The market has been trading...