Luxury conglomerate LVMH saw its first-quarter reported revenue drop 6% year-over-year. The decline is attributed largely to the impact of conflict in the Middle East on high-end spending.
- Total reported Q1 revenue fell 6% YoY
- All segments experienced reported declines
- Middle East conflict negatively impacted luxury sales
- Organic growth remained positive
- Shares trading defensively following the announcement
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