Luxury giant LVMH returned to growth in the third quarter, with sales rising by a better-than-expected 1% amid improving demand in China. AllianceBernstein Portfolio Manager Marcus Morris-Eyton holds the stock and gives his take.

Paris

LVMH shares surged by over 10% following the release of results that, while showing only a 1% organic growth year-on-year, were notably better than the previous quarter. The improvement was attributed to substantial gains across all regions, with China and the US highlighted as key drivers of the recovery.

Other luxury brands such as Kering and Hermes also experienced notable stock increases. The positive performance signals a stronger outlook for the luxury sector as it moves into the coming year, marking a turnaround after a challenging period.

LVMH shares surge after China recovery

We have an opening print on LVMH as well and just shows you when the market, I mean the numbers were very average if you look on year on year, but actually they're much better than the second quarter. So we've got LVMH now up around about 10.6%, has been up as high as 12%, Caring, the owner of Gucci up around about 6%, Hermes also moving aggressively to the upside as well. Marcus, I don't know if you want to chip in on the luxury plays and where it fits in the portfolio. Yeah, so LVMH is a big position for us, so it's nice to see the stock up, but also it shows how quickly the narrative can change here. The results were good, but let's not shy away from the fact that they grew 1% organically and yet the stock is up 10%. But what you're seeing is actually, as we discussed earlier, a real substantial improvement in all regions, particularly China and the US, which are the two key ones for the luxury market and all product categories. And so we move forward into 2026 in a far better position than we have been for the luxury sector for a couple of years now.

The U.S. military struck a fifth apparent Venezuelan boat allegedly carrying drugs, U.S. President Donald Trump announced on social media Tuesday. CBS News' Natalie Brand has more details.

Caracas

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Washington

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Sharm El-Sheikh

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Tel Aviv-Yafo

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Beijing

Global Tariffs

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Chaman

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Kyiv

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Taipei City

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Hollywood

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Tennessee

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London

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Breakdown