LVMH posts 3% drop in first quarter sales

-0.09%

-0.16%

-0.59%

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PARIS, April 14 (Reuters) - LVMH LVMH.PA, the world's largest luxury group, said on Monday sales fell 3% over the first quarter, missing expectations and confirming a sector slowdown as shoppers tightened their purse strings in a choppy economic environment.

The French company behind high-end labels including fashion houses Louis Vuitton and Dior, jewellery brand Bulgari and Hennessy cognac, reported sales for the three months to the end of March of 20.3 billion euros ($23.08 billion).

The result compares with 1% growth in the fourth quarter and analyst expectations for 2% growth in the first quarter of 2025, according to a VisibleAlpha consensus estimates.

($1 = 0.8797 euros)

(Reporting by Mimosa Spencer and Tassilo Hummel)

((Mimosa.Spencer@thomsonreuters.com;))

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