European luxury goods stocks fell slightly, and Bank of America analysts said that due to the slowdown in US demand and a weak start to the year, analysts are expected to slightly lower their first quarter profit expectations.
In terms of individual stocks, LVMH fell 0.7%, Brunello Cucinelli fell 0.6%, Ferragamo fell 4%, Burberry fell 0.7%, Kaiyunji (1.8927, 0.00, 0.00%) fell 1.1%, and Hugo Boss fell 0.6%
Bank of America analyst Ashley Wallace has lowered her revenue growth forecast for the luxury goods industry in the first quarter to 1%.
The non-linear rebound in US demand will be offset to some extent by a slight improvement in Chinese spending.
The upcoming catalyst may be negative, including financial reports and the May conference season.
The sector is close to the bottom of the valuation range, so it may soon find support.