By Andrea Figueras


LVMH Moet Hennessy Louis Vuitton reported a decrease in revenue for the first quarter, missing analysts' expectations, amid what it called a geopolitical and economic environment that remains uncertain.

The French luxury conglomerate--which houses brands Dior and Louis Vuitton, among others--said Tuesday that revenue for the first three months of the year came in at 20.69 billion euros ($21.98 billion), down 2% in reported terms compared with the year-earlier period.

Analysts expected group revenue of EUR21.14 billion, according to a poll of estimates compiled by Visible Alpha.

Revenue rose 3% organically, which compares with the 17% organic increase the company reported during the same months last year, when it saw a significant rebound in Asia.

The core fashion and leather-goods division contributed EUR10.49 billion to group revenue, which compares with EUR10.73 billion in the year-prior period. This came above analysts' forecasts of EUR10.66 billion, according to Visible Alpha consensus.

As for the wines and spirits business, the company saw an organic 12% decline. The division has been under pressure as demand for high-end liquors fell in the U.S, leading to high inventory levels.

The owner of jewelers Bulgari and Tiffany remains both vigilant and confident amid an uncertain environment and said it had a good start to the year.


Write to Andrea Figueras at andrea.figueras@wsj.com


(END) Dow Jones Newswires

04-16-24 1227ET