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LVMH Sends Mixed Signals on Chinese Luxury Spending

Aspirational consumers across the world continue to snap up Louis Vuitton handbags in record numbers. But the latest results from the brand’s owner, LVMH, didn’t give investors all the answers they wanted.

After the market closed in Paris on Tuesday, LVMH Moët Hennessy Louis Vuitton said sales in the three months through September increased 20% on the year. More impressively, sales were 11% higher than in the comparable period of pre-pandemic 2019. Business did slow in some regions after a bumper second quarter, but overall demand is still strong—LVMH’s U.S. sales even increased 22% versus the comparable period of 2019. The stock rose just under 2% in early European trading Wednesday.

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