PARIS ¨C Investors are hopeful LVMH¡¯s annual results on Tuesday will show further signs the luxury giant is recovering after a lengthy slowdown, but they also want more action from CEO Bernard Arnault to win back shoppers alienated by hefty price hikes.
Investors piled into LVMH shares in October at the first sign of a rebound in China, a key market, ?sparking an $80 billion luxury sector rally. But the stock has lost most of those gains, sliding 9% since the ?start of ?this year as tensions between Europe and the U.S. over Greenland weighed on markets.
¡°There¡¯s a ?greater hope that luxury spend is going to be a little bit better,¡± said Paul Moroz, portfolio manager at Mawer Investment Management, which holds LVMH shares.
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