LVMH’s sales of fashion and leather goods declined in the fourth quarter, casting doubt on the prospects for a quick recovery in luxury demand.

The world’s largest luxury company LVMH on Tuesday reported better-than-expected full-year sales, in the strongest sign yet of a potential turnaround in the high-end sector.

Shares in luxury conglomerate LVMH were down in early trade on Wednesday, after the company's end-of-year report disappointed investors hoping for stronger signs of rebound from the sector bellwether.

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Luxury stocks trade lower after giant LVMH shows improvement in sales, but nevertheless left analysts underwhelmed.