LVMH stock surges to record-high following earnings beat

Yahoo Finance Live discusses a rise in LVMH shares after the luxury retailer reported better than expected Q1 sales.

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- We're also looking at shares of LVMH hitting a record high today as the luxury retailer reported better than expected first quarter sales. Revenue for the first quarter increased 17% from the same period a year ago, handily beating estimates as demand for luxury goods remains strong. Now, it's interesting because this luxury consumer didn't take their foot off the gas throughout the pandemic. A lot of people were wondering at what point, even with inflation, are we going to start to see some cracks? Luxury spenders continuing to spend here and buoying some of the retail that we're seeing here, Dave.

- It's remarkable, Rachelle. Incredibly resilient end in terms of the high-end consumers. Just look at Lamborghini continuing to shatter records and Bentley and the like. We just see an awful lot of that. That's the good. The bad for LVMH is day 12 of protests in Paris protesting against the move to raise the retirement age from 62 to 64. And those protests were focused on LVMH headquarters. In fact, that's what you're looking at right there. Rather violent, ugly scene there for LVMH as they continue their anger at that subtle move. Tomorrow, a big court ruling to determine the constitutionality of increasing that retirement age.