LVMH shares slid after its recent sales update despite a strong third quarter and year to date. The world's largest luxury goods retailer, however, continues to be in a strong market position, with leading brands, good management and impressive scale.

But there are some gathering headwinds. This includes the US/China trade dispute which hasn't affected numbers materially but certainly poses a risk, as does the falling value of the yuan. There is also the reported step up in scrutiny by Chinese customs authorities in checking the luggage of returning travellers.