Luxury sales rebound in China offsets U.S. slowdown, LVMH Q2 results show

LVMH reported a 17% increase in sales in Q2, driven by strong growth in China which offset a decline in the U.S.
The company's fashion and leather goods division grew 21% in Q2, exceeding analyst expectations.
LVMH saw a 1% drop in U.S. sales, attributed to decreased spending by aspiring luxury consumers affected by inflation and economic factors.
High-end LVMH brands continue performing well in the U.S. thanks to wealthy shoppers less impacted by the economy.
Europe sales grew 18% in Q2 partly due to tourist shopping, while Asia sales excluding Japan increased 34%, with China remaining a strong luxury market.