Bryan Garnier - LVMH (MC) LVMH Q1 worse than expected

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Bryan Garnier

Loic Morvan

LVMH Q1 worse than expected

Q1 sales momentum at LVMH was softer than anticipated with a 3% organic sales decline vs stable sales expected by the consensus. Q1 2025 faced a still-demanding comparison basis (+3% in Q1 2024 vs +1% over FY 2024). In view of the Q1 sales release, we revise our 2025-26 earnings downwards by 9% wit

15/04/2025 1 EN

Underlying

LVMH

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Loic Morvan

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LVMH Q1 worse than expected

On the shelves now: Consumer Weekly #66

On the shelves now: Consumer Weekly #65

Beiersdorf 2025 guidance reiterated, despite poor Q1

Waga Energy: a good FY24 performance

Valneva: Ixchiq approved in Brazil

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