LVMH Stock Surges on Luxury Sector Recovery Hopes
Marcus LeeThursday, Jan 16, 2025 3:07 pm ET
1min readLVMH Moët Hennessy Louis Vuitton (LVMH) stock price surged today, climbing 9.8% as of 1:07 p.m. ET, following a strong earnings report from luxury peer Richemont. The report indicated a long-awaited recovery in the luxury sector, with Richemont reporting a 10% increase in third-quarter sales and double-digit growth in nearly every region. This positive news from a major luxury company lifted the sector's stocks, including LVMH, which saw its stock price rise on the news.
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