Overview
- LVMH reported fourth‑quarter revenue of €22.7 billion, up 1% like‑for‑like and ahead of expectations for a slight decline.
- Full‑year 2025 revenue came in at €80.8 billion (‑5% reported, ‑1% organic) with profit from recurring operations down about 9% to €17.8 billion and net profit down 13% to €10.9 billion.
- Asia showed a return to growth in the second half with domestic Chinese sales rising in Q4, while the U.S. edged higher and Europe and Japan weakened.
- Fashion & Leather Goods fell 3% organically in Q4 and 5% for the year; Watches & Jewellery rose 8% in Q4; Selective Retailing gained 7%; Wines & Spirits declined 9% in the quarter.
- Shares dropped roughly 7–8% after the update, pressuring peer stocks, as management emphasized cost discipline and growth efforts including Louis Vuitton’s new beauty line, flagship store investments and the streamlining of DFS with a Greater China asset sale.