LVMH Sales Decline Unexpectedly
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unexpected declineCNBC
•Business
Business & Economics
Luxury bellwether LVMH drops 8% on sales miss, dragging peers down

85% Informative
Shares of LVMH plunged 7% on Tuesday morning after the world's largest luxury group posted an unexpected decline in first-quarter sales.
Sales were "overall below the most conservative buyside expectations," Citi analysts said.
Wines and spirits saw the sharpest revenue decline, down 9% , as it flagged weaker demand in the U.S. and China for cognac.
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