Shares of luxury retail brand LVMH (MC.PA) are dropping on Wednesday morning after the company posted its second quarter earnings, slightly missing sales estimates of $22.7 billion versus an expected $23 billion. The figures out from the Dior and Marc Jacobs parent company could be signaling more challenging conditions for the luxury goods market.

Motably, the company did see gains in some categories like selective retailing, with a 5% gain year-over-year, but saw drops in categories such as wines and spirits and watches and jewelry year-over-year.

Wealth! host Alexandra Canal breaks down the latest development for LVMH and what it means for the company moving forward.

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This post was written by Nicholas Jacobino