LVMH, Kering, Hermes Q1 weakness chills luxury rebound storyline

LVMH's Q1 organic revenue missed consensus. Kering reported EUR3.57B in revenue, down 6.2% YoY, while Gucci sales fell 14.3% to EUR1.35B. Hermes maintained growth but still missed market expectations, prompting all three groups to reassess portfolios and store networks.