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shares plummeted over 7% in morning trading Wednesday after the French luxury conglomerate reported a slight fourth-quarter sales beat late Tuesday, but failed to impress investors who had set the bar higher following strong earnings from competitors.
LVMH shares were last seen 7.5% lower, while rival Gucci-owner Kering
dropped 5%.
While organic revenue grew 1% to a total of 22.7 billion euros ($27.2 billion) in the fourth quarter, a similar rate as in the prior quarter, though it declined 1% over the full year.
