Tomorrow we will see the highly anticipated full year 2023 results for LVMH after the market’s close. With a $360 billion valuation, LVMH is by far the largest player in the highly consolidated luxury market and this release will draw broad attention.
What should we expect? Looking at sales, the market consensus is that a robust holiday shopping period will drive strong sequential quarter-on-quarter growth (17.8 percent), but anemic when compared to Q4 of last year (3.6 percent growth). As per the below, this translates into the expectation that sales will rise over 10 percent for the full year for 2023 and drift even lower over the next two years.