Banking is about innovating without throwing away what works. The first isn't the best but being one of the first is.

[$LVMH](https://twitter.com/search?q=%24LVMH&src=cashtag_click) has seen a large shift in region where most of its sales occur. Hint: US market isn't growing
[https://pillarsandprofits.substack.com/p/fast-but-not-first-banking-lvmh-earnings?sd=pf](https://pillarsandprofits.substack.com/p/fast-but-not-first-banking-lvmh-earnings?sd=pf)

Facts: +17% Revenue year/year to ~$46.57bn +13% Profit from Recurring Operations year/year to ~$12.8bn Comments: Watchlist Updates: Portfolio Updates: To access the full spreadsheet and its linked deep dive go here. Until Sunday, Soren

https://pillarsandprofits.substack.com/p/fast-but-not-first-banking-lvmh-earnings?sd=pf

LVMH Earnings (Issue #72)

https://twitter.com/search?q=%24LVMH&src=cashtag_click