Shares slumped on industry bellwether LVMH failing to meet the bar set by rivals in recent weeks, denting hopes of a recovery in the sector.

Cartier owner Richemont’s robust results have boosted sentiment about luxury stocks – but are investors getting carried away?

KEY TAKEAWAYS Luxury giant LVMH eked a small gain in 2024 sales, underwhelming investors following buoyant results from rivals that signaled a turnaround for the sector.Sales last year marked a 1% organic gain over the previous year and a 2% drop reported.