0926 GMT - Luxury brands face an uncertain trajectory due to the environment in the U.S., Bernstein analysts say in a research note. Results for 2024 confirmed that demand for luxuries had improved, they say. However, recent policy decisions in the U.S.--which has become a key focus for luxury groups given weakness in the key China market--have made the trajectory more uncertain, the analysts say. "The path to a cyclical recovery has become more volatile," they add. Expectations are already low for sector bellwether LVMH, while Kering is expected to continue to face difficulties due to Gucci's turnaround challenges. Bernstein maintains its outperform rating on Hermes and Richemont. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
March 24, 2025 05:26 ET (09:26 GMT)
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