LVMH posts 3% drop in first quarter sales

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.

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